Source: Sharecast
Eurostat said that the annual change in the consumer price index was 3.2% last month, in line with initial estimates released two weeks ago and up from 3.0% in April.
That was the highest inflation rate registered since September 2023, and marks a 1.5-percentage point surge in just four months after dropping to 1.7% in January – which tied the lowest rate seen since April 2021.
Energy prices jumped at a year-on-year rate of 10.8% in May, in line with April's increase, offsetting a slowdown in food, alcohol and tobacco inflation to 1.9% from 2.4%.
Even when excluding these more volatile items, core inflation also jumped to 2.6% from 2.2%, with service-sector inflation rising strongly to 3.5% from 3.0%.
Across member states, the highest rates of inflation were seen in Bulgaria (6.3%) and Lithuania (5.1%), while the lowest rates were registered in Malta (2.1%) and Germany (2.7%).