Inflation returns to eurozone with high food and tobacco costs
- 9 years ago
Inflation returned to the euro zone economy in May, according to the EU’s stats office.
Eurostat figures confirmed that more expensive food, tobacco and services outweighed the impact of lower energy.
Consumer prices in the 19 countries sharing the euro rose by 0.2 percent month-on-month for a 0.3 percent year-on-year reading, confirming its earlier estimate.
Prices in April had been flat.
Some analysts believe the return of inflation could persuade the ECB to cut short its quantitative easing (QE), although most ECB policymakers have said they plan to carry out QE in full.
Eurostat figures confirmed that more expensive food, tobacco and services outweighed the impact of lower energy.
Consumer prices in the 19 countries sharing the euro rose by 0.2 percent month-on-month for a 0.3 percent year-on-year reading, confirming its earlier estimate.
Prices in April had been flat.
Some analysts believe the return of inflation could persuade the ECB to cut short its quantitative easing (QE), although most ECB policymakers have said they plan to carry out QE in full.