2.6 percent in May

Inflation in the eurozone lower than in Germany

Inflation in the eurozone rose from 2.4 to 2.6 percent in May (symbolic image).

(Bild: APA/dpa/Andreas Gebert)

Inflation in the eurozone rose to 2.6 percent in May. This is still significantly lower than the rate in Austria, which is 3.4 percent. The increase is attributed, among other things, to more expensive industrial goods outside the energy sector and services.

Core inflation, which excludes volatile prices for energy, food, alcohol and tobacco, stood at 2.9 percent in May. According to the ECB, the target of two percent should be reached in the second half of 2025. At the beginning of June, the monetary authorities cut interest rates again for the first time in five years - so the renewed rise in inflation is inconvenient for them.

Here you can see how inflation has developed in Austria and the eurozone since mid-2023.

Similar figures in Germany and France
In Germany, the largest economy in the currency area, prices rose by 2.8% in May. Statistical reasons played a role here, as the introduction of the German ticket in May was one year ago. In France, the second largest economy in the eurozone, inflation stood at 2.6% in May.

In Austria, inflation amounted to 3.4 percent in May, with hotels and restaurants being the biggest price drivers. In contrast, price increases for housing, water and energy declined.

However, experts noted that there were already signs that inflation was weakening. For example, energy prices in the eurozone rose by just 0.3 percent in May within a year, after falling by 0.6 percent in April.