Inflation in euro area in May accelerated to a maximum since April 2017

In May, consumer prices in the euro area rose by 1.9% in annual terms after rising by 1.2% a month earlier, according to preliminary data from Eurostat Statistics. Acceleration of inflation can be a positive signal for the European Central Bank, which plans to curtail incentives. Analysts had expected annual inflation in May at 1.6%. Without taking into account the price of energy, food and alcohol, consumer prices in the euro area rose by 1.1% in annual terms after an increase of 0.7% in April. Energy prices went up by 6.1%, food, beverages and tobacco products - by 2.6%, services - by 1.6%. Annual inflation in Germany accelerated in May to 2.2% from 1.4% a month earlier. In France, inflation was 2.3% compared with 1.8% in April.

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