Euro Area Inflation Slowdown Confirmed in May


Euro area annual inflation was 0.5 percent in May of 2014, down from 0.7 percent in April and unchanged from the preliminary estimates. A year earlier the inflation rate was 1.4 percent.

In May 2014, negative annual rates were observed in Greece (-2.1 percent), Bulgaria (-1.8 percent), Portugal (-0.3 percent) and Cyprus (-0.1 percent). The highest annual rates were recorded in Austria (1.5 percent), Luxembourg (1.4 percent) and Romania (1.3 percent). Compared with April 2014, annual inflation fell in sixteen Member States, remained stable in four and rose in seven. 

The largest upward impacts to euro area annual inflation came from tobacco and restaurants & cafés (+0.08 percentage points each) and electricity (+0.07 pp), while vegetables (-0.13 pp), telecommunications (-0.11 pp) and fruit (-0.07 pp) had the biggest downward impacts. 

Monthly inflation was -0.1 percent in May 2014. 

European Union annual inflation was 0.6 percent in May 2014, down from 0.8 percent in April. A year earlier the rate was 1.6 percent. Monthly inflation was -0.1 percent in May 2014.

Euro Area Inflation Slowdown Confirmed in May


Eurostat | Joana Taborda | joana.taborda@tradingeconomics.com
6/16/2014 10:14:15 AM