ECONOMY

EU prices keep increasing in May

eu-prices-keep-increasing-in-may

Annual inflation in the European Union continued to rise in May, reaching 2.3%, up from 2% in April, according to final data issued by the EU’s statistical office, Eurostat, on Thursday.

Eurostat said the lowest annual rates were registered in Greece (-1.2%), Malta (0.2%) and Portugal (0.5%). The highest annual rates were recorded in Hungary (5.3%), Poland (4.6%) and Luxembourg (4%).

The statistical office said a sharp spike in energy prices and more expensive services boosted consumer inflation, with energy prices adding 1.19 percentage points to the overall year-on-year figure and services 0.45 percentage points, while food, alcohol and tobacco added 0.15 percentage points.

[Xinhua]