Estimates by Eurostat, or the European Union’s statistical office, showed moments ago that annual inflation in the eurozone slowed down to 6.1% in May in a preliminary reading, compared to 7% in April’s reading, which came below expectations that it would rise to 6.3%.
In the details, prices in the energy sector fell at an annual pace of 1.7% in May after rising by 2.4% in March, while food prices rose by 12.5% from 13.5% in March, while the service index fell to 5% from 5.2%.
The main index, excluding food and energy prices, rose by 5.3% in May, compared to 5.6 in April, while it was expected to rise to 5.5%.
01/11/2024
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