(Finance) – Eurozone inflation continues to accelerate in May and it is worse than any more pessimistic forecast, confirming the strong tensions on prices and heralding an intervention by the ECB on rates. This is what emerges from the preliminary data of the European Statistical Office (EUROSTAT), which published the flash estimate of inflation this morning.
The trend figure shows a + 8.1%, higher than expected range of 7.7-8% and compared to + 7.4% the previous month. This is a new record since the introduction of the single currency. Over month, instead, consumer prices should have registered a increase of 0.8% higher than 0.6% of the previous month and of the consensus.
Core inflation – which excludes energy, food and tobacco – comes estimated at 3.8% (3.5% the previous), showing an increase of 0.5% on a monthly basis (1% the previous).
Harmonized inflationexcluding the food and energy components, is expected at 4.4% from + 3.9% of the previous month and compared to + 3.8% of the consensus. On a monthly basis it is expected to grow by 0.7% (+ 1.2% the previous one).