Carsten Brzeski
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Inflation hits 3.2%, highest since 2023: Are ECB rate hikes inevitable?
Eurozone inflation rose to 3.2% in May, the highest since 2023, driven by energy and services. Markets now see an ECB rate hike next week as done deal. Price pressures across the euro area accelerated again in May, as the disruptions from the Strait of Hormuz blockade continued to ripple through energy markets, pushing inflation to its highest level in almost three years and cementing expectations of an imminent European Central Bank rate hike.
German industrial output rises for the first time this year but is still 'too little'
An uptick of 0.4% in Germany's April factory output and a rise in exports offer little cause for celebration as new orders collapse, energy prices soar and Europe's largest economy continues to struggle to find solid footing. German industrial production edged higher in April for the first time since the outbreak of war in the Middle East, official data released Tuesday showed, though analysts warn the single-month gain masks a far grimmer underlying picture for Europe's largest economy....