European Economic News

Eurozone Inflation Accelerates In May As Expected

Eurozone annual inflation accelerated in May for the first time in nine months, preliminary data from Eurostat showed on Friday.

Inflation rose to 1.4 percent from April's 1.2 percent, in line with economists' expectations. The figure climbed for the first time since August last year, when it was 2.6 percent.

The European Central Bank targets inflation "below, but close to 2 percent".

Core inflation that excludes energy, food, alcohol & tobacco also increased in May, rising to 1.2 percent from 1 percent in April.

Among components, food, alcohol & tobacco registered the biggest increase in May, up 3.3 percent, the agency said. Meanwhile, energy prices declined for a second straight month, down 0.2 percent.

Eurostat is set to release full inflation data on June 14.

by RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

More European Economic News