June 18 () –
The inflation rate in the euro zone stood at 2.6% year-on-year in May, two tenths above the rise in prices observed in April, according to the second estimate of the data published by the community statistics office, Eurostat.
In this way, the eurozone’s annual inflation rate registered its first rebound since December 2023 and climbs to its highest level since last February.
In the European Union (EU) as a whole, the interannual inflation rate reached 2.7% in the fifth month of the year, one tenth above the rise in prices in April.
The acceleration in the rise in prices in the euro region reflected the 0.3% rise in the cost of energy, after falling 0.6% year-on-year in April, while fresh food rose 1.8%, six tenths more.
Likewise, non-industrial energy goods rose by 0.7% in May, two tenths less than the previous month, but services rose by 4.1%, compared to 3.7% in April, thus reaching their highest level since October 2023.
When discounting the impact of energy on prices, the inflation rate rose to 2.8%, one tenth more than in April, while when also excluding the cost of food, as well as tobacco and alcohol, the rate core rose to 2.9% from 2.7%.
Among the Twenty-seven, the lowest annual inflation rates were recorded in Latvia (0%), Finland (0.4%) and Italy (0.8%), while the highest were observed in Romania (5.8% ), Belgium (4.9%) and Croatia (4.3%).
Compared to April, annual inflation decreased in eleven Member States, remained stable in two and increased in fourteen.
In the case of Spain, the harmonized inflation rate reached 3.8% last May, four tenths above the April reading, widening the price differential against the country to 1.2 percentage points with respect to the eurozone average.
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