Inflation in the euro zone’s four largest economies hovered above the European Central Bank’s 2 percent target for a third straight month in May, preliminary data showed on Friday, as a rise in fuel costs triggered by the Iran war began to feed through to other prices.

The ECB warns the Iran war could raise euro-area inflation expectations as oil tops $120 per barrel and firm-level forecasts climb from 2.5% to 3.0%.

Inflation picked up across the EU’s largest economies in May, driven by higher energy prices, fuelling expectations that the ECB will raise interest rates at its June meeting.

Inflation in the euro zone’s four largest economies hovered above the European Central Bank’s 2 percent target for a third straight month in May, preliminary data showed on…

Inflation across the euro zones four largest economies stayed above the European Central Banks 2% target for a third consecutive month in May, driven by rising fuel costs linked…