Eurozone Inflation Rises While ECB Weighs Further Rate Hike

Eurozone's overall rate of inflation increased to 7% in April, with food prices being the main factor.
Core inflation, which excludes food and energy prices, decreased to 5.6% in April.
European Central Bank policymakers will decide whether to continue raising interest rates to curb inflation when they meet on Thursday.
The International Monetary Fund recently said that taming inflation while avoiding a recession was Europe’s biggest challenge in the months to come.
The inflation data will influence the European Central Bank’s decision on whether to continue raising interest rates in an effort to bring down inflation.