Euro area inflation accelerated to the highest since 2023 in May as the Middle East conflict continue to push energy prices higher and the rising price pressures strengthened the chances of an interest rate hike from the European Central Bank next week.
Inflation rose to 3.2 percent in May from 3.0 percent in April, flash data from Eurostat showed Tuesday. This was the strongest rate since September 2023, when inflation was 4.4 percent.
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May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.