Inflation is down in Europe, but European Central Bank in no hurry for rate cuts

FRANKFURT, Germany, 2nd July, 2024 (WAM) -- Inflation in the 20-nation eurozone crept lower to 2.5 percent in June, but remained stuck above the level favoured by the European Central Bank, which is in no hurry to add more rate cuts after a first tentative reduction in its benchmark rate.

The figure released on Tuesday was down from 2.6 percent in May, welcome news as inflation continues to fall from its peak of