Annual inflation in the euro area has dropped to 1.9 % in May.
The European Statistical Office (Eurostat), the Euro and the European Union (EU) published the final data on inflation in May. Accordingly, the annual consumer price index (CPI), accounting for 2.2 % of NIS in Eurozone, dropped to 1.9 % in May. CPI has not changed monthly in May. The market expectation is also the annual inflation will be 1.9 % in May. In May, the core inflation in the euro area is 2.3 % on the basis of annual and zero basis on a monthly basis. When we look at the main components of inflation in May in the euro area, the highest annual inflation takes place in the service sector with 1.47 %. Next are food products, alcohol and tobacco with 0.62 %, industrial products do not have energy with 0.16 %and energy products with negative 0.34 %. In the EU, the annual inflation, 2.4 % in April, has dropped to 2.2 % in May. The CPI in the EU has not changed monthly in May. Annual inflation is 2.1 % in Germany in May, 0.6 % in France, 1.7 % in Italy and 2 % in Spain. On the other hand, the European Central Bank for the purpose of 2 % inflation in medium term.