European inflation revised up to 3.7 per cent
Berlin - 
Annual inflation in the 15-member eurozone hit 3.7 per cent in May, with surging energy and food prices forcing the European Union statistics office Monday to revise up its previous estimate for last month.
The upward revision in the inflation data will add to expectations that the European Central Bank will deliver a 25-basis-points rate hike at its meeting next month.
In its preliminary estimate issued earlier this month, the statistics office said inflation in May came in at 3.6 per cent. Inflation stood at 3.3 per cent in April.
Economists expect inflation in the eurozone to creep up to about 4 per cent by the end of the year, which would be essentially double the ECB's annual inflation target of close to but under 2 per cent. (dpa)
