Eurozone Inflation Seen to Hit Fresh Record 8.1% in May

Source: Eurostat

Annual inflation in the eurozone is expected to have climbed to a fresh record-high this month, mainly driven by the surge in energy prices during the month. EZU is down 0.38%, while VGK is up 0.05%.

• Annual inflation for the month is projected to clock in at 8.1%, faster than the 7.4% in April and 2.0% in May 2021.
• The biggest increase was in energy prices which climbed 39.2%, quicker than the 37.5% in April and 13.1% in the same month last year.
• Food, alcohol, and tobacco increased by 7.5%, faster than 6.3% in April and 0.5% in May 2021.
• Prices of non-energy industrial goods increased by 4.2%, faster than 3.8% in April and 0.7% in May 2021.
• Services prices grew by 3.5%, faster than the 3.3% in April and 1.1% in May last year.
• The fastest print was in Estonia at 20.1%, Lithuania at 18.5%, Latvia at 16.4%, Slovakia at 11.8%, and Greece at 10.7%.