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Euro area annual inflation down to 0.5%
Zone(s): Europe ¦ Sector(s): Economy
European Union annual inflation was 0.6% in May 2014, down from 0.8% in April. A year earlier the rate was1.6%. Monthly inflation was -0.1% in May 2014.
These figures come from Eurostat, the statistical office of the European Union.
In May 2014, negative annual rates were observed in Greece (-2.1%), Bulgaria (-1.8%), Portugal (-0.3%) and Cyprus (-0.1%). The highest annualrates were recorded in Austria (1.5%), Luxembourg (1.4%) and Romania (1.3%). Compared with April 2014, annual inflation fell in sixteen Member States, remained stable in four and rose in seven.
The largest upward impacts to euro area annual inflation came from tobacco and restaurants & cafés (+0.08 percentage points each) and electricity (+0.07 pp), while vegetables (-0.13 pp), telecommunications (-0.11 pp) and fruit (-0.07 pp) had the biggest downward impacts.