Eurozone inflation reaches target for first time since 2018
Early estimates suggest HICP inflation hit 2% in May
Prices in the eurozone are estimated to have risen year on year by 2% in May, according to official statistical agency Eurostat.
This is the first time since October 2018 that the harmonised index of consumer prices (HICP) inflation has hit the upper bound of the European Central Bank’s inflation target.
The reading confirms the rebound in prices that the region – in common with many other economies – is experiencing in 2021. From September 2020 through December, inflation stood at -0.3%
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