Eurozone: Complete data confirm first inflation rise in six months
June 19, 2015
According to more complete data released by Eurostat on 19 June, harmonized consumer prices rose 0.2% over the previous month, which came in slightly below the 0.3% increase observed in April. In annual terms, inflation rose from zero in April to 0.3% in May, which confirmed the preliminary estimate and marked the first increase since November 2014.
At a country level, 10 of the 19 Eurozone economies posted annual inflation rates equal to or above the regional average. Malta (+1.3 year-on-year), Latvia (+1.2% yoy), Austria (+1.0% yoy) and Portugal (+1.0% yoy) showed the highest inflation rates. Conversely, Cyprus (-1.7% yoy), Greece (-1.4% yoy) and Slovenia (-0.8% yoy) showed the lowest rates. Among the major economies in the Eurozone, in Germany harmonized inflation rose 0.7% in May and in France it increased 0.3%. In Italy harmonized inflation rose a timid 0.2%, while in Spain harmonized consumer prices fell 0.3% in annual terms.
Author: Ricardo Aceves, Senior Economist