Global Market: Eurozone inflation stays above ECB target as fuel costs begin to filter through

Inflation across the euro zone’s four largest economies stayed above the European Central Bank’s 2% target for a third consecutive month in May, driven by rising fuel costs linked to geopolitical tensions. With price pressures persisting in France, Germany, Italy and Spain, markets are increasingly pricing in the possibility of further ECB tightening even as economists expect inflation to remain uneven across the region.