Euro zone inflation was unchanged at 2.2% in April, flash data from statistics agency Eurostat showed. Economists polled by Reuters had been expecting the reading to come in at 2.1% in April compared to March's 2.

Consumer-price inflation in the eurozone remained just above the ECB’s target, teeing up more interest-rate cuts as policymakers anticipate a hit to growth from higher U.S. tariffs.

Euro zone inflation held steady just above the ECB's 2% target in April but underlying price pressures picked up more than projected, likely making some ECB policymakers nervous, even if a trade war may justify more interest rate cuts.