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Financial News: Eurozone Inflation At 5-Month Low

Eurozone Inflation At 5-Month Low

05/31/2017 - 05:34:00 (RTTNews)

(RTTNews) - Eurozone inflation eased at a faster-than-expected pace in May to the lowest level in five months, flash data from Eurostat showed Wednesday.

Inflation came in at 1.4 percent in April versus 1.9 percent in April. Economists had forecast the annual rate to moderate to 1.5 percent.

Moreover, this was the weakest inflation since December 2016, when prices had risen 1.1 percent.

Core inflation that excludes energy, food, alcohol and tobacco slowed to 0.9 percent in May from 1.2 percent a month ago. It was expected to ease to 1.0 percent.

Energy prices alone grew 4.6 percent annually in May and prices of food, alcohol and tobacco grew at steady pace of 1.5 percent.

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