In the Asian session on Friday (June 2), the latest price of EUR/USD was 1.0762, and the opening price was 1.0762. The latest data shows that mainly driven by the decline in energy costs, the initial value of the CPI annual rate in the euro zone in May recorded 6.1%, and the monthly CPI rate recorded 0%, both lower than expected; the initial value of the core CPI monthly rate in May recorded 0.3% , The initial value of the core CPI annual rate recorded 6.9%.
Economists expect inflation in the euro zone to continue falling, with inflationary pressures likely to cool further as global raw material bottlenecks ease, energy prices fall and retail demand softens. The impact of monetary policy will also keep inflation in check in the coming quarters, although some uncertainty remains, notably with regard to wage settlement expectations. While inflation fell, the ECB said more decisive action was needed to move interest rates into a band sufficiently tight to ensure inflation returned to target in a timely manner.
