FILE - People shop at a market in Versailles, outside Paris, France, on July 3, 2022. Europe's painful inflation inched higher last month, extending the squeeze on households and keeping pressure on the European Central Bank to unleash another large interest rate increase. Consumer prices jumped 7% in April from a year earlier, just down from the annual rate of 6.9% in March, the European Union statistics agency Eurostat said Tuesday May 2, 2023.
Core inflation, which excludes volatile food and fuel, slowed slightly but was still high at 5.6%, underlining the expectation that thewith its campaign to beat inflation into submission with rate hikes. The question is: How quickly will the bank go?
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