Eurozone inflation falls to lowest level since Russia invaded Ukraine

Eurozone inflation has fallen more than economists expected to hit its lowest level since Russia’s invasion of Ukraine more than a year ago, but the head of the European Central Bank signalled more interest rate rises were needed to tame persistent price pressures.

Annual consumer prices in the 20-country single currency bloc rose 6.1 per cent in the year to May, a decline from 7 per cent in April, according to data published by the…