Economic Buzz: Eurozone Consumer Prices Rises In May

Eurozone inflation rose to 1.9 percent in May from revised 1.3 percent in April, final data from Eurostat revealed Friday. A similar high rate was last seen in April 2017. The latest rate matched the initial estimate released on May 31. Inflation was in line with the European Central Banks target of below, but close to 2 percent. Core inflation that excludes cost of energy, food, alcohol and tobacco, also increased in May, to 1.1 percent from revised 0.8 percent a month ago. Final data came in line with flash estimate. On a monthly basis, the harmonized index of consumer prices gained 0.5 percent in May.