Eurozone annual inflation is expected to fall to 6.1% in May 2023 from 7% in April, according to a preliminary estimate by the European statistical office Eurostat.
Assessing the main components of inflation in the euro area, experts expect food, alcohol and tobacco products to have their highest annual rate in May (12.5% compared to 13.5% in April), followed by non-energy manufactured goods ( 5.8%, up from 6.2% in April), services (5% up from 5.2% in April) and energy (-1.7% up from 2.4% in April).
In Greece annual inflation is expected to decline to 4.1% in May from 4.5% in April.
In May, the highest inflation rate in the euro area was recorded in Latvia and Slovakia (12.3%), Estonia (11.2%) and Lithuania (10.7%). The lowest inflation was recorded in Luxembourg (2%), Belgium (2.7%), Spain (2.9%), Cyprus (3.6%) and Greece (4.1%).
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