Inflation in the EU accelerated in May

Photo: EPA-EFE / JULIEN WARNAND

At the EU level, the annual inflation rate measured by the harmonized index of consumer prices (HICP), which enables comparison between member states, was 2,7 percent in May, statisticians calculated.

In the Eurozone, prices rose by 2,6 percent in May, Eurostat confirmed the estimate from the end of May. In April, they were 2,4 percent higher compared to the same month last year, reports SEEbiz.

Price growth accelerated in May in both the Eurozone and the EU for the first time since the end of last year.

On a monthly basis, prices in both areas grew by 0,2 percent in May, the European Statistical Service calculated. In the previous month, they increased by 0,6 percent in both the Eurozone and the EU.

In May, the price of services grew the most in the Eurozone, by 4,1 percent compared to the same period last year.

The price of fresh food increased by 1,8 percent, more than the previous month. Energy prices rose for the first time in just over a year, by a meager 0,3 percent, statisticians calculated.

In May last year, the annual inflation rate in the Eurozone was 6,1 percent, and in the EU 7,1 percent.

Romania recorded the highest annual inflation rate in the EU in May, at 5,8 percent, Eurostat reported.

Belgium and Croatia, members of the Eurozone, follow, with growth in consumer prices measured by the HICP of 4,9 and 4,3 percent, respectively, compared to May last year.

The group of countries with price growth close to the level of four percent includes Hungary, Spain and Portugal, where the growth is approximately 3,8 percent.

Finland recorded the lowest annual inflation rate in May, at 0,4 percent. rp/

In Latvia, prices have stagnated, the Eurostat report shows.

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