Consumer prices in the eurozone in May rose 0.3 percent year on year. “The fear of deflation has thus gone,” said RTL Z stock market commentator Mathijs Bouman
In April, the price level was stable compared to a year earlier. The inflation was slightly stronger than expected. Economists settled into an average increase of 0.2 percent.
According to the European statistical office Eurostat show from the first estimate that the price level increased mainly due to higher prices in the service sector, followed by food, alcohol and tobacco. The prices of services increased on average by 1.3 percent after an increase of 1 percent in April and food, alcohol and tobacco prices rose 1.2 percent after rising 1 percent a month earlier.
The prices of energy fell just as strong, with 5 percent after a decline of 5.8 percent in April.
The ECB, the European Central Bank’s mandate and as a medium-term target for inflation direction to get 2 percent. To boost the current low level of inflation, the ECB pumped monthly 60 billion in the market.
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