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.
65 Articles
65 Articles
Inflation in the Eurozone climbed in May to 3.2% compared to 3% in April, an acceleration motivated by rising prices in countries such as Bulgaria, Lithuania and Greece, where the...
Eurozone Inflation Rises to 3.2 Percent as Energy, Services Costs Climb
Eurozone inflation rose more than expected in May, driven by higher energy prices and a sharp pickup in services costs, according to a flash estimate from the European Union’s statistics office. Eurostat, the European Union’s statistical office, said on June 2 that energy inflation had the highest annual rate among the main components, rising to 10.9 percent in May from 10.8 percent in April. Services inflation also rose to 3.5 percent from 3 pe…
Inflation in the euro area rises to 3.2 percent, driven by the rise in oil prices caused by the Middle East conflict. Commerzbank's chief economist Jörg Krämer expects further interest rate increases in conversation with Dietmar Deffner and sets the background.
Prices of goods and services in the euro area continued to rise in May. According to Eurostat, the rate of inflation ... The post Lagarde under pressure: inflation in the euro area rises to 3.2 percent appeared first on Apollo News.
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