Eurozone unemployment hits record - again.

As expected, eurozone unemployment edged up to a new high of 12.2% in April from 12.1% March, with an eye-watering 19.4M people without a job. Meanwhile, inflation rose in line with consensus to an annual 1.4% in May from 1.2% in April, while core CPI increased to a greater-than-expected 1.2% from 1%. Inflation is well below the ECB's target of just under 2%, so could give the bank further room to loosen monetary policy.