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- Eurozone consumer price index rose in line with forecasts in May
Eurozone consumer price index rose in line with forecasts in May
According to the report from Eurostat, the euro area annual inflation rate was 2.0% in May 2021, up from 1.6% in April. A year earlier, the rate was 0.1%. The core figures rose to 1.0%, beating the 0.9% consensus forecasts. European Union annual inflation was 2.3% in May 2021, up from 2.0% in April. A year earlier, the rate was 0.6%.
The lowest annual rates were registered in Greece (-1.2%), Malta (0.2%) and Portugal (0.5%). The highest annual rates were recorded in Hungary (5.3%), Poland (4.6%) and Luxembourg (4.0%). Compared with April, annual inflation fell in four Member States, remained stable in one and rose in twenty-two.
In May, the highest contribution to the annual euro area inflation rate came from energy (+1.19 percentage points, pp), followed by services (+0.45 pp), non-energy industrial goods (+0.19 pp) and food, alcohol & tobacco (+0.15 pp).
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