Iran war oil shock boosts eurozone inflation to 3.2% in May

NAMPA / DPA

2026-06-02

Luxembourg (dpa) - The oil shock caused by the Iran war drove eurozone inflation up to 3.2% on the year in May from 3% in April, the EU's Eurostat office reported in Luxembourg on Tuesday in an initial estimate. The European Central Bank has set a medium-term target of 2.0% for the 21-member eurozone. Analysts expect the ECB to react at the next meeting of its Board of Governors on June 11 by raising its key rate for the first time this year from......

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