That said, Eurozone Inflation, per the European Central Bank’s (ECB) preferred gauge of inflation, namely the annual Harmonised Index of Consumer Prices (HICP), rose 6.1% YoY in May versus 6.3% expected and 7.0% prior. Further details suggest that the Core HICP also softened to 5.3% from 5.6% prior and 5.5% market forecasts.
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