Euro-area annual inflation expected to be 0.5% in May, down from 0.7% in April, according to Eurostat flash estimate; food, alcohol and tobacco inflation fell to 0.1% in May from 0.7% in April

BRUSSELS , June 3, 2014 (press release) – Euro area1 annual inflation2 is expected to be 0.5% in May 2014, down from 0.7% in April3, according to a flash estimate4 from Eurostat, the statistical office of the European Union.

Looking at the main components of euro area inflation, services is expected to have the highest annual rate in May (1.1%, compared with 1.6% in April), followed by food, alcohol & tobacco (0.1%, compared with 0.7% in April), non-energy industrial goods (0.0%, compared with 0.1% in April) and energy (0.0%, compared with -1.2% in April).


Euro area annual inflation and its components, %

 

Weight (‰) 2014

May 2013

Dec 2013

Jan 2014

Feb 2014

Mar 2014

Apr 2014

May 2014

All-items HICP

1000.0

1.4

0.8

0.8

0.7

0.5

0.7p

0.5e

All-items excluding:

energy

891.9

1.6

1.0

1.0

1.1

0.8

0.9p

0.6e

energy, food, alcohol & tobacco

694.4

1.2

0.7

0.8

1.0

0.7

1.0p

0.7e

Food, alcohol & tobacco

197.6

3.2

1.8

1.7

1.5

1.0

0.7p

0.1e

Energy

108.1

-0.2

0.0

-1.2

-2.3

-2.1

-1.2p

0.0e

Non-energy industrial goods

266.6

0.8

0.3

0.2

0.4

0.2

0.1p

0.0e

Services

427.8

1.5

1.0

1.2

1.3

1.1

1.6p

1.1e

e = estimate                      p = provisional



1. The euro area consists of Belgium, Germany, Estonia, Ireland, Greece, Spain, France, Italy, Cyprus, Latvia, Luxembourg, Malta, the Netherlands, Austria, Portugal, Slovenia, Slovakia and Finland.
2. Annual inflation is the change of the price level between the current month and the same month of the previous year. For further information on the euro area inflation flash estimate, see the Statistics Explained article on the Eurostat website:
http://epp.eurostat.ec.europa.eu/statistics_explained/index.php/Inflation_in_the_euro_area
3. See News Release 77/2014 of 15 May 2014.
4. The euro area inflation flash estimate is issued at the end of each reference month. The complete set of harmonised indices of consumer prices (HICP) for the euro area, EU and Member States is released around the middle of the month following the reference month. The next release with full data for May 2014 is scheduled for 16 June 2014.

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