Annual inflation slowed in the euro area and the EU in May

Eurostat’s website states that inflation slowed to 1.9 percent in the eurozone in May, down from 2.2 percent in April, and in the EU from 2.4 percent to 2.2 percent.

Core inflation in the eurozone, excluding energy and food, alcohol and tobacco, was 2.3 percent in May year-on-year, down from 2.7 percent in April.

Energy prices fell by 3.6 percent in May year-on-year, similar to April. The rise in prices of services slowed to 3.2 percent in April, down from 4 percent in April. The rise in prices of food, alcohol and tobacco accelerated to 3.2 percent in May, up from 3 percent in April.

Consumer prices remained unchanged on a monthly basis compared to April, when they rose by 0.6 percent.

The lowest annual rate was recorded in Cyprus (0.4 percent) and the highest in Romania (5.4 percent).

Compared to April, annual inflation fell or stagnated in fourteen Member States, while it rose in twelve.