Eurozone annual inflation in May expected to rise to 1.4%

31 May 2013 11:37  [Source: ICIS news]

LONDON (ICIS)--Eurozone annual inflation is expected to be 1.4% in May 2013, up from 1.2% in April, according to a flash estimate on Friday from Eurostat, the statistical office of the European Union.

Although the rise may subdue fears over deflation, the level is still far below the European Central Bank’s targeted inflation ceiling of 2%.

Looking at the main components of eurozone inflation, Eurostat said food, alcohol and tobacco is expected to have the highest annual rate in May (3.3% compared with 2.9% in April), followed by services (1.4% compared with 1.1% in April), non-energy industrial goods (0.9% compared with 0.8% in April) and energy (-0.2% compared with -0.4% in April).

Eurostat also reported on Friday that eurozone unemployment in April 2013 rose to a record high 12.2% from 12.1% in March. The unemployment rate in the EU remained flat in April at 11.0% compared with the previous month.

By: Franco Capaldo
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