Annual inflation in the euro zone rose to 2.6% in May

Official data revealed on Tuesday that annual inflation in the euro zone accelerated in May, as initially expected, driven largely by the cost of services.

Eurozone inflation reached 2.6% in May 2024, up from 2.4% in April. A year ago, the rate was 6.1%, according to Eurostat, the European statistical office.

The rate was in line with the estimate published on May 31, and away from the European Central Bank’s target of 2%.