Euro Area May Inflation Review

The euro area reported a rise in annual headline inflation to 3.17% in May, driven largely by persistent services inflation. Core inflation also trended higher to 2.56%.

Key Takeaways

• 1.Euro area headline inflation rose to 3.17% in May from 3.03% in April, while core inflation climbed to 2.56%.
• 2.Services inflation remains the primary driver of headline price growth, supported by transport and recreation sectors.

Table of Contents

• Euro area: May inflation review
• Energy inflation remained high and core inflation accelerated
• Germany
• France
• Italy
• Spain

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