Annual inflation in the euro area was 0.5 percent in May this year, down from 0.7 percent in April, according to a report released by Eurostat, the Statistical Office of the European Communities. In May 2013, the annual inflation rate was 1.4 percent. Meanwhile, monthly inflation in the euro area was -0.1 percent in May this year.
Meanwhile, in the European Union (EU-28) annual inflation was 0.6 percent in May, down from 0.8 percent in April. In May 2013, the annual inflation rate in the EU-28 was 1.6 percent, while the monthly inflation rate in the EU-28 was -0.1 percent in May of the current year.
In May this year, annual inflation in the EU-28 fell in 16 states, remained stable in four and increased in seven states as compared with April. The lowest annual inflation rates were observed in Greece (-2.1%), Bulgaria (-1.8%), Portugal (-0.3%) and Cyprus (-0.1%), while the highest were observed in Austria (1.5%), Luxemburg (1.4%) and Romania (1.3%).
The lowest 12-month averages up to the end of May this year were registered in Greece (-1.4%), Bulgaria (-1.0%) and Cyprus (-0.4%), while the highest were seen in Estonia (2.1%), Romania and Finland (both 1.8%) and Austria (1.7%).