Eurozone annual inflation at 1.4 per cent

Eurozone annual inflation as measured by the consumer price index has been recorded at 1.4 per cent, meeting analyst expectations. This is up from 1.2 per cent in April and 2.4 per cent year on year.

In May 2013, the lowest annual rates were observed in Greece (-0.3 per cent), Latvia (-0.2 per cent) and Cyprus (0.2 per cent), and the highest in Romania (4.4 per cent), Estonia (3.6 per cent) and the Netherlands (3.1per cent). Compared with April 2013, annual inflation rose in sixteen Member States, remained stable in six and fell in four.

The largest upward impacts came from fruit and vegetables (+0.11 percentage points each) and electricity (+0.09), while fuels for transport (-0.28), telecommunications (-0.18) and medical and paramedical services (-0.08) had the biggest downward impacts.