In May, food inflation in the Eurozone slowed on an annual basis

By: Trademagazin Date: 2023. 06. 02. 12:00

In May, inflation slowed down in the euro area on an annual basis, the statistical office of the European Union announced on Thursday.

According to Eurostat’s preliminary data, inflation in the Eurozone fell to 6.1 percent in May from 7.0 percent in April. The average of analysts’ expectations was 6.3 percent for May.

In the euro area, consumer prices stagnated in May compared to April, when an increase of 0.6 percent was recorded.
Energy prices decreased by 1.7 percent compared to last May, while in April the annual increase was 2.4 percent. The increase in the price of services slowed to 5.0 percent in May from 5.2 percent in the previous month.

The increase in the price of non-energy goods slowed down to 5.8 percent on an annual basis from 6.2 percent in April, and the increase in the price of food, alcoholic beverages and tobacco decreased to 12.5 percent after 13.5 percent in April.