14/06/2012

By Matt Ritchie

Annual inflation in the euro area fell to 2.4 per cent in May from 2.6 per cent in April, according to the statistical office of the European Union.

Inflation across the European Union reached 2.6 per cent, down from 2.7 per cent the month before. The figure was also down on the 3.2 per cent recorded in May last year.

At 0.9 per cent, the lowest annual rates were observed in Greece and Sweden, followed by Bulgaria at 1.8 per cent. Conversely, the highest rates were experienced in Hungary, at 5.4 per cent, Estonia at 4.1 per cent, and Cyprus and Malta which both registered annual inflation of 3.7 per cent.

Compared with April 2012, annual inflation fell in twenty Member States, remained stable in three and rose in three.

Eurostat said that the main components with the highest annual rates in May were alcohol and tobacco at 4.7 per cent, while the lowest annual rates were observed for communications on -3.3 per cent.

Home     More News


Other stories you may find of interest:

Early AVC release could stimulate Irish economy by €1.8bn - IBEC
Allowing members to access additional voluntary contribution (AVC) pension funds now could generate €1.8bn for the Irish economy, the Irish Business and Employers Confederation (IBEC) has said in a new report

Investors hungry for European equities
The global economy will improve in the next year, predict fund managers, with the bearish sentiment that has long existed among investors beginning to ease, says Bank of America Merrill Lynch

Economic sentiment stable in EU
Economic sentiment is stable in the EU, though has declined slightly in the euro area, according to the European Commission’s latest Business and Consumer Survey