The European Statistics Office (Eurostat) has released the Eurozone’s leading inflation data for May.

Accordingly, annual inflation in the Euro Area, which was 7 percent in April, was determined as 6.1 percent in May.

In the Euro Zone, the CPI remained unchanged in May compared to the previous month.

Market expectations were for annual inflation to be 7 percent and monthly inflation to 0.6 percent in the Euro Area in May. The data came in below market expectations.

Looking at the main components of inflation, the highest annual inflation was 12.5 percent in food, alcohol and tobacco products. While food was followed by non-energy industrial products with 5.8 percent and services with 5 percent, energy products decreased by 1.7 percent.

According to EU-aligned data, inflation last month was 12.3 percent in Latvia and Slovakia, 11.2 percent in Estonia, 10.7 percent in Lithuania, 8.7 percent in Austria and 8.3 percent in Croatia. , 8.1 percent in Italy and Slovenia, 6.8 percent in the Netherlands, 6.4 percent in Malta, 6.3 percent in Germany, 6 percent in France, 5.4 percent in Ireland and Portugal , 5.2 percent in Finland, 4.1 percent in Greece, 3.6 percent in Southern Cyprus, 2.9 percent in Spain, 2.7 percent in Belgium and 2 percent in Luxembourg measured.

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