Mumbai, June 2 -- Annual inflation in the euro area came in at 3.2% in May, rising from 3% in the previous month, according to a preliminary report published by Eurostat on Tuesday. On a monthly basis, the Consuper Price Index rose 0.1%, compared to a 1% increase in April.
Core inflation, excluding energy, food, alcohol, and tobacco, climbed 2.5% year-over-year and 0.3% month-over-month.
The forecast stated that energy is expected to be the biggest contributor to upward price momentum, rising 10.9% in May, up slightly from 10.8% in the months prior. Services are seen advancing 3.5%, up from 3% in April. Food, alcohol, and tobacco, on the other hand, advanced 2%, a slower pace than the 2.4% growth last month.
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