EU inflation falls in May
Annual inflation in the eurozone and the European Union as a whole fell slightly in May, in line with earlier predictions.
The European Union’s statistics agency Eurostat predicted in its flash estimate at the end of May that annual inflation in the euro area would drop to 2.4% from 2.6% over the same period, which has been confirmed in the latest estimate. Inflation in the wider European Union dropped from 2.7% in April to 2.6% in May.
Greece and Sweden both had the lowest annual rates in May, with 0.9%, while Hungary reported the highest rate with 5.4%.
Annual inflation fell in 20 member states, remained stable in three and rose in three.
According to Eurostat, the main components with the highest annual rates in May were alcohol & tobacco with 4.7%, housing with 4% and transport at 3.7%. The lowest contributors to annual inflation rates were observed in the communications sector at -3.3%, education with 0.7% and recreation & culture contributing 1.3%.
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