Prices of European manufacturers in May rose at a maximum rate for the year

In May this year, prices of European manufacturers rose by 3% in annual terms, the Statistical Office Eurostat reported. Compared with the growth of 1.9% in April, the rise in May accelerated and became the maximum for the year. Relative to the previous month, prices increased by 0.8%. Analysts had expected the growth of the first indicator by 2.7%, the second one - by 0.5%. Energy prices rose in May by 7.6% in annual terms in the euro area and by 10.8% in the European Union. The most significant increase in producer prices in the EU was observed in the UK - by 6.7%. The largest decline was recorded in Ireland - by 2.7%.

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