European Union │Inflation at its lowest since the war began

CESCE, Country Risk

The price level in the Eurozone has grown by 6,1% in the month of May compared to the same period of the previous year.

This is its lowest level since February 2022, just before Russia invade Ukraine, and represents a significant decrease compared to the figure for the month of April, when it stood at 7%. Inflation has fallen in 18 of the 20 eurozone members, with the exception of Netherlands where it has followed a growing trajectory.

Although the data is relatively favorable, the president of the European Central Bank, Christine Lagarde, has assured that they are still well above the organization's objective, which inevitably leads to applying new rate increases, currently at 3,25%. The ECB meets in mid-June when it is expected to apply a new rise of a quarter point. In addition, he has another appointment in the month of July when, predictably, they will agree on another increase of the same magnitude.

In this way, the ECB follows in the footsteps of the Fed which began the cycle of increases somewhat before the Frankfurt entity and has already paralyzed the increases, at least until we see how the prices react, which, for the moment, continue to fall to 4,9% last April. 

Source: CESCE

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