Inflation in Europe has fallen to its slowest pace since Russia invaded Ukraine, bolstering the case for the region’s central bank to bring interest rate hikes to an end soon.
Consumer prices in the 20 countries that use the euro rose 6.1% last month compared with a year ago, easing from 7% in April, according to an initial estimate Thursday from the European Union’s statistics agency.
That’s the lowest rate of inflation since February 2022, when Moscow launched a full-scale invasion of its neighbor, sending global energy prices soaring.
Read More : Inflation Hits Record Low in Europe Amidst Russia’s Ukraine Invasion