Prices are rising faster across the EU’s biggest economies, according to early figures for May. The numbers reinforce growing expectations that the European Central Bank (ECB) will raise interest rates in June.
France's inflation rate rose to its highest level in more than a year.
The country's EU-harmonised inflation rate (HICP), a measure used to compare inflation across the eurozone, came in at 2.8% year-on-year in May, driven by higher energy prices, particularly natural gas, according to preliminary data from the national statistics agency, INSEE.
On a monthly basis, prices edged up just 0.1% from April, reflecting some easing in energy costs over the month, even as they remain well above their levels a year earlier.
The reading is nonetheless the highest HICP reading since February 2024 and continues a sharp acceleration from the 1.1% rate recorded as recently as February.
