Wednesday, December 01, 2021

NEWS

EU inflation exceeds two percent

EU inflation exceeds two percent

Brussels, Jun 18 (Prensa Latina) Annual inflation in the European Union (EU) advanced to 2.3 percent in May, 0.3 percent above the figure for the previous month, the Community statistics office, EUROSTAT, informed today.
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The European entity’s representatives explained that in the case inflation in the Eurozone stood at two percent in May compared to 1.6 reached in April. However, they highlighted that in 2019 it marked only 0.1 percent.

The lowest rates were recorded in Greece (1.2), Malta (0.2) and Portugal (0.5). Meanwhile, the highest were in Hungary (5.3), Poland (4.6) and Luxembourg (4.0), the EU office’s experts provided further details.

In May, they pointed out, the highest contribution to inflation in the euro zone came from energy (1.19), followed by services (0.45), non-energy industrial goods (0.19) and food, alcohol and tobacco (0.15).

Meanwhile, the previous day the European Central Bank was concerned about the negative effects of rising inflation on the labor market and urged member countries to avoid a sustained rise in prices.

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