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Eurozone final inflation confirmed at 6.1% y/y in May

EUROZONE DATA
  • Final Eurozone headline CPI came in at 6.1% y/y in May (down from 7.0% y/y in April) and was flat m/m, confirming the flash estimates.
  • Core inflation inflation was confirmed at 5.3% y/y and 0.2% m/m.
  • June’s Eurosystem staff macroeconomic projections added 0.1 percentage point to headline inflation across the forecast horizon versus March, to 5.4% in 2023, 3.0% in 2024 and 2.2% in 2025.
  • The continued inflationary pressures from food and energy prices and wage agreements across the zone remain central to the ECB's hawkish stance.
  • This follows the ECB's monetary policy meeting on Thursday, when it hiked its three key rates by 25bp and signaled another 25bp hike next month.

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