Eurozone inflation rebounds to 2.0% on higher energy prices

FRANKFURT, Germany (AP) — Prices are rising in Europe. Consumer inflation hit 2.0% in May on an annual basis. That’s up from 1.6% in April. But a closer look shows that it’s mostly the result of higher energy prices that are rebounding from pandemic recession lows. That means the higher inflation rate is not likely to push the European Central Bank to withdraw its support for the economy in the form of bond purchases and very low interest rates benchmarks.