Europe has succeeded in bringing inflation under control after a surge driven by the end of the Covid-19 pandemic and Russia’s invasion of Ukraine, the head of France’s central bank said.

Economists polled by Reuters had been expecting the May reading to come in at 2%, which is the European Central Bank's target.

The outcome of the global trade war could meaningfully alter the euro zone's inflation path, the European Central Bank said on Thursday as it outlined several scenarios to its central view. In a mild scenario,