Euro-Zone Inflation Crawls, ECB In Rate-Hike Mode

The Euro-zone inflation data is coming out next week. The data won't show much progress towards the ECB's 2% target. The ECB officials will probably need to increase interest rates. It's frustrating because progress towards the target is slow.

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Europe's economy is in trouble. Things are not looking good. The European Union is facing a major crisis. Countries are struggling with high levels of debt. Unemployment is on the rise. Some countries are on the verge of bankruptcy. The pandemic has made things worse. The EU is trying to find solutions. But it's not clear if they will work. Many people are worried about the future. The situation is very serious.

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In May, consumer prices went up by 6.3% compared to the same time last year. This is information from a survey conducted by Bloomberg. It's lower than the increase of 7% in April. Experts said that if we remove the things that change a lot like energy prices, the increase is closer to 5.5%.

The core gauge could still be going up, even though headline inflation is slowing, due to lower energy costs. Euro-zone policymakers are focused on this index to decide if they should keep raising borrowing costs.

On Friday, ECB Chief Economist Philip Lane said that while they anticipate progress, they haven't made it to that point yet. He added that the rise in energy prices will affect the core, but they're unsure when that will happen.

The officials plan to increase the rates in the next two meetings. Some, like Joachim Nagel, think there may be a third increase in September.

ECB officials are worried about fast price increases. They might keep tightening even if the US Federal Reserve takes a break.

On Thursday, the euro-zone data will come out. The ECB is also celebrating its 25th anniversary that day. The report will show data from around the region. All four big economies will have slowing inflation. This is what Bloomberg forecasts.

Next week, there will be reports about economic measures of European countries. Spain's report is expected to show a decrease to 3.4%. This prediction is based on the median estimate. These reports will show differences between different countries in the euro zone.

France, Italy, and Germany are all expected to have inflation rates above 6% the following day. This is in contrast to the previous day's data.

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