FRANKFURT (Reuters) -Euro zone inflation eased below the European Central Bank’s target last month, data showed on Tuesday, underpinning expectations for another interest rate cut this week, even as global trade tensions fuel longer-term price pressures.

Consumer price inflation in the 20 countries sharing the euro slowed to 1.9% in May from 2.2% a month earlier, below expectations for 2.0% on a fall in energy prices and a sharp decline in services inflation.

A more closely watched reading on underlying inflation, or prices excluding volatile fuel and food prices, meanwhile slowed to 2.3% from 2.7%, driven by a slowdown in services price growth to 3.2% from 4.0%, Eurostat, the EU’s statistics agency said.

The ECB has cut interest rates seven times since last June and another move on Thu

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