Euro area annual inflation is expected to be 8.1% in May 2022, up from 7.4% in April according to a flash estimate from Eurostat, the statistical office of the European Union. Looking at the main components of euro area inflation, energy is expected to have the highest annual rate in May (39.2%, compared with 37.5% in April), followed by food, alcohol & tobacco (7.5%, compared with 6.3% in April), non-energy industrial goods (4.2%, compared with 3.8% in April) and services (3.5%, compared with 3.3% in April). (full story)

Prices in the euro zone continued their march higher in May, hitting a record high for the seventh month in a row. Inflation came in at 8.1% for the month, according to preliminary figures from Europe’s statistics office Tuesday, up from April’s record high of 7.4% and higher than expectations of 7.8%. It comes after inflation prints from several major European economies surprised to the upside in recent days. German inflation (harmonized to be comparable with other EU nations) came in at an annual 8.7% in May, preliminary figures showed on Monday — significantly outstripping analyst expectations of 8% and marking a ... (full story)