Top euro zone countries see Iran inflation fallout broaden in May

Inflation in the euro zone's four largest economies remained above the ECB's 2% target for a third straight month in May, with preliminary data showing fuel-cost pressures from the Iran war beginning to pass through to other prices. The print reinforces concerns about sticky inflation and could keep the European Central Bank cautious on rate cuts.

Analysis

Inflation in the euro zone's four largest economies remained above the ECB's 2% target for a third straight month in May, with preliminary data showing fuel-cost pressures from the Iran war beginning to pass through to other prices. The print reinforces concerns about sticky inflation and could keep the European Central Bank cautious on rate cuts.