{"id":365926,"date":"2024-05-31T11:33:24","date_gmt":"2024-05-31T09:33:24","guid":{"rendered":"https:\/\/www.eunews.it\/2024\/05\/31\/eurozona-a-maggio-cresce-inflazione-bce\/"},"modified":"2024-06-05T18:42:00","modified_gmt":"2024-06-05T16:42:00","slug":"eurozone-inflation-rises-again-in-may-eyes-on-the-ecb","status":"publish","type":"post","link":"https:\/\/www.eunews.it\/en\/2024\/05\/31\/eurozone-inflation-rises-again-in-may-eyes-on-the-ecb\/","title":{"rendered":"Eurozone, inflation rises again in May. Eyes on the ECB"},"content":{"rendered":"

Brussels – Inflation is back on the rise in the eurozone: <\/strong>in May, it registered a 0.2 percentage point increase\u00a0compared to April,\u00a0to 2.6 percent.<\/strong> In the preliminary release,\u00a0Eurostat<\/strong> notes that between April and May, the index was affected\u00a0by the increase for services (4.1 percent compared to 3.7 percent in April) and energy (0.3 percent, up from -0.6 percent in April). Non-energy industrial goods, however, were broadly steady\u00a0(0.8 percent, up from 0.9 percent in April).<\/span><\/span><\/span><\/p>\n

At the member-state level, the European Statistical Office expects inflation to rise in three of the top four eurozone economies – Germany (from 2.4 percent to 2.8 percent), France (from 2.4 percent to 2.7 percent), and Spain (from 3.4 percent to 8.8 percent). Bucking the trend was<\/strong>\u00a0Italy<\/strong>, with inflation\u00a0still well below the 2 percent reference target<\/a> and falling (from 0.9 percent to 0.8 percent).<\/p>\n

These data should not change the guidelines of the European Central Bank<\/strong>, which announced its intention to ease the tight monetary policy\u00a0and\u00a0cut interest rates<\/strong>. The\u00a0first sign of this was given by ECB President Christine Lagarde, saying that June would be the decisive time for such a decision<\/a>. Then,\u00a0Governing Council member Philip Lane reiterated this more explicitly\u00a0in his speech<\/a> at the Dublin Institute of International and European Affairs on Monday (May 27). “At our June meeting, if our updated assessment of the inflation outlook [.]\u00a0were to further increase our confidence that inflation is converging to our target in a sustained manner, it would be appropriate to reduce the current level of monetary policy restriction<\/strong><\/span><\/span>.” Translated, this means rate cuts, of\u00a0an expected\u00a0quarter of a point (-0.25).<\/strong><\/span><\/span><\/span><\/span><\/p>\n

All eyes at this point are on Frankfurt and what the Board will decide at its next meeting scheduled for next week (June 6). For the Eurotower, after fueling\u00a0expectations of an interest rate cut, a reversal appears impractical at this point. Eurostat data on inflation, which\u00a0show a\u00a0rise, indicate the possible next course of action in monetary policy: having gone ahead with the announced cut, the central bank could decide to stay on hold in the coming months.<\/p>\n","protected":false},"excerpt":{"rendered":"

Eurostat: +0.2 percent over April. Central bank board meeting on June 6. A 0.25 pct pt rate cut is expected, which may not be followed by others<\/p>\n","protected":false},"author":494,"featured_media":262439,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"episode_type":"","audio_file":"","podmotor_file_id":"","podmotor_episode_id":"","cover_image":"","cover_image_id":"","duration":"","filesize":"","filesize_raw":"","date_recorded":"","explicit":"","block":"","jnews-multi-image_gallery":[],"jnews_single_post":{"source_name":"","source_url":"","via_name":"","via_url":"","override_template":"0","override":[{"template":"1","single_blog_custom":"","parallax":"1","fullscreen":"1","layout":"right-sidebar","sidebar":"default-sidebar","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"top","share_float_style":"share-monocrhome","show_share_counter":"0","show_view_counter":"0","show_featured":"1","show_post_meta":"1","show_post_author":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_category":"1","show_post_reading_time":"0","post_reading_time_wpm":"300","show_zoom_button":"0","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"1","show_prev_next_post":"1","show_popup_post":"1","number_popup_post":"1","show_author_box":"0","show_post_related":"1","show_inline_post_related":"0"}],"override_image_size":"0","image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post":"0","trending_post_position":"meta","trending_post_label":"Trending","sponsored_post":"0","sponsored_post_label":"Sponsored by","sponsored_post_name":"","sponsored_post_url":"","sponsored_post_logo_enable":"0","sponsored_post_logo":"","sponsored_post_desc":"","disable_ad":"0"},"jnews_primary_category":{"id":"","hide":""},"jnews_override_counter":{"override_view_counter":"0","view_counter_number":"0","override_share_counter":"0","share_counter_number":"0","override_like_counter":"0","like_counter_number":"0","override_dislike_counter":"0","dislike_counter_number":"0"},"footnotes":""},"categories":[25705],"tags":[26106,26112,26105,25828,26107],"class_list":["post-365926","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-bce-en","tag-dati-eurostat-en","tag-eurozone-en","tag-inflation-en"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.eunews.it\/en\/wp-json\/wp\/v2\/posts\/365926","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.eunews.it\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.eunews.it\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.eunews.it\/en\/wp-json\/wp\/v2\/users\/494"}],"replies":[{"embeddable":true,"href":"https:\/\/www.eunews.it\/en\/wp-json\/wp\/v2\/comments?post=365926"}],"version-history":[{"count":5,"href":"https:\/\/www.eunews.it\/en\/wp-json\/wp\/v2\/posts\/365926\/revisions"}],"predecessor-version":[{"id":366637,"href":"https:\/\/www.eunews.it\/en\/wp-json\/wp\/v2\/posts\/365926\/revisions\/366637"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.eunews.it\/en\/wp-json\/wp\/v2\/media\/262439"}],"wp:attachment":[{"href":"https:\/\/www.eunews.it\/en\/wp-json\/wp\/v2\/media?parent=365926"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.eunews.it\/en\/wp-json\/wp\/v2\/categories?post=365926"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.eunews.it\/en\/wp-json\/wp\/v2\/tags?post=365926"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}