Inflation in the 20 countries that use the euro fell to 1.9% in May from 2.2% in April, clearing the way for more rate cuts from the European Central Bank to support growth in the face of U.S. President Donald Trump's tariff offensive.

Lower energy prices helped bring consumer prices in May to below the ECB's 2% target for the first time since September. Increasing signs that inflation is back under control after a painful outbreak in 2021-23 leaves room for the ECB to turn its attention to worries about the impact of a slew of new import taxes on EU goods in the U.S. that threaten to slow Europe's export-oriented economy.