Euro area's annual inflation rate may drop to 6.1% in May 2023

Looking at the main components of euro area inflation, non-energy industrial goods are projected to be at 5.8 per cent, compared with 6.2 per cent in April and energy at -1.7 per cent, compared with 2.4 per cent in April, Eurostat, the statistical office of the European Union (EU), said in a press release.

Non-energy industrial goods made a significant contribution to the annual euro area inflation rate in April 2023, adding 1.62 percentage points. In comparison, energy’s contribution was lower but still notable at 0.38 percentage points.

ALCHEMPro News Desk (NB)