Energy, services spur Eurozone inflation
Photo: EPA

Energy, services spur Eurozone inflation

ECB believes the surge in prices is temporary

Robust growth in energy prices and a surge in costs of services have contributed for a sharp rise in consumer prices in the Eurozone, Reuters reported. The May data has exceeded the forecast of the European Central Bank. The statistics office of the European Union Eurostat confirmed that inflation in the 19 countries sharing the euro was up 0.3% compared to the previous month to reach a 2.0% year-on-year increase. The ECB wants to keep inflation below to 2%.

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