- Inflation in the euro area reached 2.0% year-on-year in May.
- The monthly CPI in the block rises 0.3% in May.
According to Eurostat’s final reading of the CPI report of the Eurozone corresponding to May, consumer prices stood at 2.0% annually, complying with the initial estimate. Meanwhile, the core CPI rose to 1.0%, beating the consensus forecast of 0.9%.
In monthly terms, the euro zone CPI figure for May reached 0.3% compared to the 0.3% forecast and 0.6% previously, while the underlying figures stood at 0.2% compared to the 0.2% forecast and 0.2% previously .
Key details (via Eurostat):
“The lowest annual rates were recorded in Greece (-1.2%), Malta (0.2%) and Portugal (0.5%). The highest annual rates were recorded in Hungary (5.3%), Poland (4.6%) Luxembourg (4.0 %). Compared with April, annual inflation decreased in four Member States, remained stable in one and increased in 22 “
“In May, the largest contribution to the annual rate of inflation in the euro area came from energy (+1.19 percentage points), followed by services (+ 0.45%), non-energy industrial goods (+ 0.19%), and food, alcohol and tobacco (+ 0.15%) “.
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