Country’s 0.5% annual inflation in May third-lowest in euro zone

  • Lusa
  • 17 June 2021

In May, the annual inflation rate was 2% in the euro zone, above the European Central Bank's target. Portugal's was the third-lowest in the region, according to Eurostat.

At 0.5%, Portugal in May had the third-lowest annual rate of consumer price inflation in the euro zone, where the rate was 2.0%, and in the European Union as a whole, where it was 2.3% – above the European Central Bank’s target, according to figures released by European Union’s statistics office on Thursday.

According to Eurostat, inflation in the euro zone accelerated to 2.0% in May from 1.6% in April. In May 2020 it had been just 0.1%.

In the EU as a whole, the rate accelerated to 2.3% from 2.0% in April, having in May 2020 been 0.6%.

In both cases, the inflation rate exceeds the ECB’s target of a rate “below but close to 2%”.

The lowest inflation rates in May were recorded in Greece (where prices were down 1.2% on the year), Malta (where they were up 0.2%) and Portugal (0.5%). The highest were in Hungary (5.3%), Poland (4.6%) and Luxembourg (4.0%).

Inflation slowed in four member states as compared to April, was stable in one and accelerated in the other 22.