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June 16, 2023EU AND EURO AREA CONSUMER PRICE INDEX, MAY 2023 Year-over-year (May 2023 vs May 2022)
The inflation rate slowed to 7.1% in the European Union and to 6.1% in the Euro Area in May 2023.
The fastest inflation was reported in Hungary (+21.9%) while the slowest inflation rate was in Luxembourg (+2.0%).
Energy inflation declined 0.3% in the European Union and declined 1.8% in the Euro Area in May 2023.
Although energy inflation has declined, food price inflation remains elevated at 15.1% for the European Union and 13.8% for the Euro Area.
Excluding the impacts of energy, food, alcohol and tobacco prices inflation edged down to 6.1% in the European Union and to 5.3% in the Euro Area in May 2023.
Note: Canada and Nova Scotia May 2023 CPI figures will be released on June 27, 2023.
Source: Eurostat
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