Euro Area Inflation Confirmed At 1.4% in May


Euro Area annual inflation was 1.4 percent in May 2013, up from 1.2 percent in April due to higher prices of electricity, fruit and vegetables. A year earlier the rate was 2.4 percent. European Union annual inflation was 1.6 percent in May 2013, up from 1.4 percent in April.

In May 2013, the lowest annual rates were observed in Greece (-0.3 percent), Latvia (-0.2 percent) and Cyprus (0.2 percent), and the highest in Romania (4.4 percent), Estonia (3.6 percent) and the Netherlands (3.1 percent). Compared with April 2013, annual inflation rose in sixteen Member States, remained stable in six and fell in four. The lowest 12-month average rates up to May 2013 were registered in Greece (0.3 percent), Sweden (0.7 percent) and Latvia (1.1 percent), and the highest in Hungary and Romania (both 4.3 percent) and Estonia (3.9 percent). 

The largest upward impacts on Euro Area annual inflation came from fruit and vegetables (+0.11 percentage points each) and electricity (+0.09), while fuels for transport (-0.28), telecommunications (-0.18) and medical and paramedical services (-0.08) had the biggest downward impacts. 

The monthly inflation was recorded at 0.1 percent and the core inflation rate, which strips out volatile energy and unprocessed food costs, was 1.2 percent, unchanged from the previous month.

Euro Area Inflation Confirmed At 1.4% in May


Eurostat | Nuno Fontes | nuno@tradingeconomics.com
6/14/2013 10:20:13 AM