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Eurozone Inflation Rate Turns Positive
The annualized inflation rate in the eurozone climbed to 0.3% in May from zero in April, Eurostat reports.
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The annualized inflation rate in the eurozone climbed to 0.3% in May from zero in April, Eurostat reports. The rate has been at or below 0% for five months.
May's core inflation rate, which ignores volatile food and energy, rose to 0.9% from 0.6% in April. Economists say the upturn indicates positive results of the €1.1 trillion bond-buying stimulus program launched in March by the European Central Bank.
The ECB considers 2% inflation healthy. But inflation in the eurozone has been below that level since the beginning of 2013. Economists worry that protracted deflation makes consumers and businesses more likely to delay purchases, thus creating even more contraction.
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