Eurozone | Inflation increases slightly in May, but is still negative

Summary

Inflation increased by 0.1pp to -0.1% YoY in May, due to the moderation of falling energy prices and the increase in services inflation, which raised core inflation by 0.1pp to 0.8% YoY. We still see low and relatively stable core inflation, while oil prices will maintain headline inflation in negative territory or very low until summer.

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