Euro Zone Inflation Rises to 3.2% in May on Higher Energy Costs
Energy inflation climbed 10.9% as euro zone price growth stayed above the European Central Bank's 2% target, officials said.
- Euro zone inflation rose to an estimated 3.2% in May, matching Reuters poll forecasts but remaining above the European Central Bank's 2% target as energy costs surged.
- Energy prices climbed 10.9% in May, up from 10.8% the previous month, as elevated oil and gas costs persist following the conflict in Iran.
- Services inflation rose to 3.5% from 3% in April, while food, alcohol and tobacco prices cooled to 2% from 2.4%, revealing divergent sectoral pressures.
- Inflation varied sharply across markets: Germany saw annual inflation fall to 2.7% from 2.9%, France rose to 2.8%, and Greece and Lithuania reported rates above 5%.
- Prior to the conflict in Iran, euro area inflation had dipped below the European Central Bank's 2% threshold, underscoring how energy shocks have reshaped the region's monetary policy landscape.
38 Articles
38 Articles
Higher oil prices due to the Iran war lead to a surge in inflation in the eurozone. In May, consumer prices rose by 3.2 percent year-on-year. An increase in interest rates is becoming more and more likely.[more]]>
Inflation in the euro area is expected to rise to 3.2 percent in May.
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