Eurozone inflation at lowest level since Ukraine war but more interest rate rises expected

BUSINESS DAILY © FRANCE 24

The annual inflation rate in the Eurozone dipped sharply in May to 6.1 percent, its lowest level since Russia invaded Ukraine last year. Despite this, European Central Bank Chief Christine Lagarde hinted at further, more gradual interest rate hikes to bring inflation down to its target of 2 percent. The central bank's rate policy is having an effect on homebuyers in France, as they struggle with rising borrowing costs. Real estate agencies are therefore finding it harder to sell homes and some of them are going bust.