Eurozone Inflation Falls More Than Expected

In May, Eurozone inflation dropped more than expected to 6.1% from 7.0% in April, below the expectations of 6.3%, Reuters reports.

Core inflation, which excludes volatile food and fuel prices, fell to 5.3% from 5.6%, coming well under expectations for 5.5%.

The European Central Bank (ECB) has raised base rates by 375 basis points to 3.25% over the past year to combat rising inflation.

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