This inflation On a year-on-year basis in the euro area, it fell to 6.1% in May, nine-tenths less That’s more than recorded in April, according to data released this Friday by the community statistics office Eurostat.
In this way, inflation in the Euro Zone is starting to recover. descending path then, after five consecutive months of growth, it rose by a tenth in April and now far from an all-time high reached 10.6% in October 2022 due to high energy prices.
on the set European Union (EU)inflation fell to 7.1% in MayFrom 8.1% recorded in April.
The decrease in the rate is also seen in the data of 2019. Core inflation – which did not include energy and unprocessed foods in the calculation due to their more volatility – decreased its growth in May from 7.3% to 6.9% compared to the previous month. Excluding all food, alcohol and tobacco, as well as energy, the rise in prices fell three-tenths, up to 5.3 percent.
This decline, first of all, energy productsIn May, its price fell 1.8% year on year and 2.2% month on month.
The increase in food, alcohol and tobacco prices remained moderate in May, rising from 13.5% in April to 12.5% in May compared to 2022, although the monthly rate increased by four-tenths.
The price of non-energy industrial goods also followed this path. more controlled growth In May, it fell four-tenths to 5.8%, while the service rate fell two-tenths to 5%.
New rate increase
Despite this decline in inflation, the European Central Bank (ECB) decided on Thursday to raise interest rates by a quarter point to 4%, the highest rate since 2008. Inflation ‘stays too high for too long’ and propelled another possible uptrend next July. This increase was the eighth time in a row since it decided to raise its rates to face high inflation in July last year.
For countries in the euro area, Spain again came in third with the lowest inflation rate (2.9%)after Luxembourg and Belgium, which recorded 2% and 2.7% respectively. On the opposite side, Lithuania (10.7%), Estonia (11.2%) and Latvia and Slovakia (12.3%) remained above the double-digit barrier for another month.
Source: Informacion
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