Rising energy costs have lifted Eurozone inflation to its highest level since 2023, strengthening expectations that the European Central Bank will raise interest rates

EU flags flutter in front of European Central Bank (ECB) headquarters in Frankfurt, Germany, July 18, 2024. [Photo/Agencies]

Euro zone inflation rose to an estimated 3.2% in May, driven by surging energy prices. The print was in line with forecasts in a Reuters poll of economists. Energy costs…