Core CPI rose to 2.5% year-over-year, exceeding expectations and signaling persistent price pressures in the bloc.
Eurozone preliminary May CPI matched forecasts at 3.2% year-over-year, unchanged from April’s upwardly revised 3.0%. Core inflation accelerated to 2.5%, above the 2.4% estimate and prior 2.2%, reinforcing concerns over sticky price growth.
The data aligns with recent ECB commentary suggesting inflation remains above target, though energy and food price trends may ease in coming months. Markets had anticipated a slight dip in headline inflation, but core metrics continue to challenge policymakers.
No immediate market reaction was reported, though the print keeps July rate cut expectations under scrutiny.