Eurozone Preliminary CPI accelerates to 2% YoY in May, beats estimates
|According to Eurostat’s preliminary reading of the Eurozone CPI report, the annual figure came in at 2% in May, outpacing expectations of 1.9% while accelerating from April’s 1.6%.
The core figures steadied at 0.9% YoY in May when compared to 0.9% expectations and 0.7% booked in April.
Key details (via Eurostat)
“Looking at the main components of euro area inflation, energy is expected to have the highest annual rate in May (13.1%, compared with 10.4% in April), followed by services (1.1%, compared with 0.9% in April), non-energy industrial goods (0.7%, compared with 0.4% in April) and food, alcohol & tobacco (0.6%, stable compared with April).”
EUR/USD reaction
EUR/USD keeps its recovery mode intact on the Eurozone economic data, currently trading around 1.2232, up 0.07% on the day.
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