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Mon, 16 Jun, 2014 05:48:26 PM FTimes- Xinhua Report, June 16
Euro area annual inflation was 0.5 percent in May 2014, down from 0.7 percent in April, figures from Eurostat, the statistical office of the European Union (EU) showed on Monday.
EU annual inflation was 0.6 percent in May 2014, down from 0.8 percent in April.
In May 2014, negative annual rates were observed in Greece (-2.1 percent), Bulgaria (-1.8 percent), Portugal (-0.3 percent) and Cyprus (-0.1 percent).
The highest annual rates were recorded in Austria (1.5 percent), Luxembourg (1.4 percent) and Romania (1.3 percent).
Compared with April 2014, annual inflation fell in 16 EU member states, remained stable in four and rose in seven.
The largest upward impacts to euro area annual inflation came from tobacco, restaurants and cafes, and electricity, while vegetables , telecommunications and fruit had the biggest downward impacts.
The European Central Bank (ECB) on June 5 decided to cut the deposit rate to negative as its first time to do so. The decision came after the Eurostat released its flash estimate of inflation in the euro area in May, which stands at 0.5 percent.
ECB President Mario Draghi said the rate cut was among "a combination of measures to provide additional monetary policy accommodation and to support lending to the real economy." More News
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