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2 Jun 2015
Eurozone Consumer Prices rise 0.3% in May
FXStreet (Mumbai) - The official data released today in the Eurozone showed inflation as measured by the Consumer Price Index (CPI) on an annual basis rose for the first time in six months in May.
The CPI in May printed at 0.3% on year, beating the estimate of 0.2%. Core inflation accelerated to 0.9%, the fastest in nine months, bettering the expectation of a 0.7% rise.
Experts say the rise in inflation is largely due to a spike in oil prices and may be reflected in the ECB’s economic assessment later this week.
The CPI in May printed at 0.3% on year, beating the estimate of 0.2%. Core inflation accelerated to 0.9%, the fastest in nine months, bettering the expectation of a 0.7% rise.
Experts say the rise in inflation is largely due to a spike in oil prices and may be reflected in the ECB’s economic assessment later this week.