Eurozone inflation rises 0.3 per cent in May

The biggest price increases came from vegetables as well as restaurants and cafes (Source: Getty)

Eurozone inflation rose 0.3 per cent in the year to May a second estimate released today by statistics agency Eurostat has shown, in line with economists' expectations, and up from zero in April.

The largest prices increases came from vegetables which rose 0.09 per cent, restaurants and cafes which increased 0.08 per cent and tobacco which jumped 0.07 per cent.

Meanwhile the biggest downward pressure came from petrol prices which fell 0.34 per cent, heating oil which fell 0.15 per cent and gas which slumped 0.08 per cent.

Earlier this month the European Central Bank raised its inflation forecast for this year from zero to 0.3 per cent, saying that its €1.1 trillion stimulus program was paying off.

The central bank's governor Mario Draghi also said the recovery was on track, but it had expected stronger figures than its projections, and this shows there has been a modest loss of momentum.

Here's what inflation looks like across the Euro area:

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