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For additional information relating to this article, please contact:

Thomas StorringDirector – Economics and Statistics
Tel: 902-424-2410Email: thomas.storring@novascotia.ca

June 17, 2020
EU AND EURO AREA CONSUMER PRICE INFLATION, MAY 2020

In May 2020, a month still marked by COVID-19 containment measures, the year-over-year inflation rate declined to 0.6 per cent in the European Union and to 0.1 per cent in the Euro Area. European Union data for this report is now for the 27 member countries of the European Union, not including the UK. 

Among EU member states, the fastest year-over-year inflation was reported in Poland, Czechia and Hungry while the lowest inflation was reported in Estonia, Luxembourg, Cyprus and Slovenia. Inflation rates were negative in fourteen Member States in May 2020.

Compared to the previous month, annual inflation rates declined in twenty Member States, remained stable in two and rose in five.                                                                          

May food price inflation moved down to 4.1 per cent (year-over-year) in the European Union and 3.6 per cent (year-over-year) in the Euro Area. 

Energy inflation (May-20 vs May-19) continued to fall in May. Energy inflation was at -11.2 per cent in the European Union and to -11.9 per cent in the Euro Area.

Excluding the impacts of volatile energy, food, alcohol and tobacco prices year-over-year inflation ticked up to 1.2 per cent for the European Union and was unchanged at 0.9 per cent for the Euro Area. 

 

 

Source: Eurostat-News Release

 

 



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