The increase in the rate is explained by the increase in the cost of services, which registered an inflation of 4.1% compared to 3.7% the month before
Interannual inflation in the eurozone rose by two-tenths in May, mainly to 2.6% pushed for him increase in the cost of servicesas confirmed on Tuesday by the community statistics agency Eurostat.
Despite this increase, which Eurostat highlighted at the end of May, the European Central Bank (ECB) cut interest rates for the first time since the start of the escalation in 2022 at its June 6 meeting, although it warned that it is not guaranteed that the sale will go through in the next months.
The community statistics office has also confirmed that the Underlying inflationwhich excludes energy, food and tobacco because they are more volatile, and which serves as a reference for the ECB in its monetary policy decisions, also went up two tenths in May, to 2.9%.
The increase in the rate is explained by the increase in the cost of services, with inflation at 4.1%, compared to 3.7% the month before; as well as for the increase in energy priceswhich grew by 0.3% in May, ending several consecutive months of declines.
Inflation of food, alcohol and tobacco fell by two-tenths in May to 2.6%, as did that of industrial goods excluding energy, which stood at 0.7%, compared to the 0.9% recorded in April.
Source: EITB
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
