Eurozone inflation rises to 3.2% in May above ECB goal
Business
Inflation in the eurozone ticked up to 3.2% in May, still above the European Central Bank (ECB)'s 2% goal.
The main culprits? Energy and services prices, which kept climbing and made it harder for the ECB to balance rising costs with economic growth.
Eurozone energy nearly 11% services 3.5%
Energy prices jumped by nearly 11% compared to last year, while services saw a noticeable bump too, up to 3.5%.
Food inflation actually cooled off a bit, dropping to 2%.
Core inflation (which excludes energy, food, alcohol and tobacco) edged higher as well, showing that price pressures aren't letting up anytime soon across Europe.