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Eurozone flash CPI eases to 6.1% y-o-y in May
- Eurozone headline CPI eased to 6.1% year-on-year in May according to the flash estimate, from 7.0% in April and lower than the consensus forecast of 6.3% (although market expectations were probably a little lower than this given some of the soft national prints released over the past couple of days).
- Headline CPI was 0.0% month-on-month.
- Core CPI meanwhile eased to 5.3% year-on-year, from 5.6% in April, while registering growth of 0.2% month-on-month.
- However, Eurozone unemployment remained at 6.5% in May, the same rate as in April and a record low.
- Inflation coming in lower than expected will bring some relief to the ECB, although the tight labour market will remain a concern going into the next monetary policy meeting.
Source: MNI, Eurostat
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