May euro area inflation confirmed at 0.3% YoY mainly driven by energy and food | Eurobank
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May euro area inflation confirmed at 0.3% YoY mainly driven by energy and food

According to the final estimate published by Eurostat1, euro area headline HICP inflation rose to 0.3% YoY in May 2015 (in line with the flash estimate), from 0.0% YoY in April. (Figure 1). The lowest annual inflation rates were registered in Cyprus (-1.7% YoY) and Greece (-1.4% YoY), while the highest were recorded in Romania and Malta (both 1.3% YoY). The rise in euro area headline inflation was once again attributed to the volatile categories of energy and food price inflation. In particular, energy inflation increased to -4.8% YoY from -5.8% YoY, in the prior month, while food inflation rose to +0.9% YoY from 0.6% YoY due to a large increase in unprocessed food prices.