Annual inflation in May 2023 down to 6.1% in euro area, 7.1% in EU

Annual inflation in the EU was 7.1 per cent during the month, down from 8.1 per cent in April. A year earlier, the rate was 8.8 per cent.

Compared with April, annual inflation fell in 26 EU member states and rose in one.

The lowest annual rates were registered in Luxembourg (2 per cent), Belgium (2.7 per cent), Denmark and Spain (both 2.9 per cent).

The highest annual rates were recorded in Hungary (21.9 per cent), Poland and Czechia (both 12.5 per cent).

ALCHEMPro News Desk (DS)