According to Eurostat’s publication of June 2, annual inflation in the euro area is expected to reach 3.2% in May 2026, up from 3.0% in April.
Excluding energy prices, inflation is estimated at 2.5%.
Energy prices increased by 10.9% year-on-year. This increase breaks down into:
– a 22.5% rise in liquid fuel prices,
– a 1.4% increase in electricity, gas, solid fuels, and related energy prices.
European inflation has not been this high since December 2023.
The chart below, published by Eurostat, shows the evolution of annual inflation since 2018:
Several countries have already released their May inflation figures:
– Germany: 2.7%
– France: 2.8%
– Italy: 3.3%
– Spain: 3.6%
– Belgium: 4.1%
– Portugal: 3.1%
As for the United States, while May inflation figures will not be released until June 10, the Federal Reserve Bank of Cleveland was forecasting inflation at 4.18%.
Sources:
– Inflation in the Euro Area – Statistics Explained | Eurostat
– Consumer Prices – Annual Rate of Change | Eurostat
– Inflation Nowcasting | FRBC
