Euro area annual inflation is expected to be 1.2% in May, down from 1.7% in April according to a flash estimate from Eurostat, the statistical office of the EU. Annual inflation is the change of the price level between the current month and the same month of the previous year.
Looking at the main components of euro area inflation, energy is expected to have the highest annual rate in May (3.8%, compared with 5.3% in April), followed by food, alcohol & tobacco (1.6%, compared with 1.5% in April), services (1.1%, compared with 1.9% in April) and non-energy industrial goods (0.3%, compared with 0.2% in April).