Economic news

Euro zone inflation exceeds forecasts in May

Euro area inflation leaped well above predictions in May on higher energy costs, bringing alleviation to the European Central Bank after market volatility that has affected its planned speed-up the process of monetary tightening.

Photo: Spencer Platt | Getty Images

Inflation in the 19 nations using the euro jumped to 1.9 percent from 1.2 percent in April, EU statistics office Eurostat reported on Thursday, while analysts predicted a 1.6 percent increase.

The ECB has been trying to hold inflation below but close to 2 percent, a difficult goal, even with best in a decade economic figures. The ECB has spent months preparing investors for an end to its QE programme.

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