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2023/06/02 / Erste Group Research

Eurozone inflation falls more than expected

In May, Eurozone inflation unexpectedly fell significantly to 6.1% y/y, from 7.0% y/y previously. Fortunately, for the first time in a long time, all major components contributed to this decline.

The inflation trend in May was a first step in the desired direction. It is highly likely that the downward trend in inflation for energy, food and goods will continue in the coming months.

However, it remains to be seen whether the downward trend in services in particular will continue. In this area, the ECB will keep a particularly critical eye on the development and analyze the individual components closely.

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General information

AuthorErste Group Research
Product nameWeek ahead
Topic in focusMacro/ Fixed income
Economy in focusEurozone
Currency in focusEuro
Sector in focus-


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