Eurozone inflation slumps to 0.1% in May

MG News | May 29, 2020 at 04:13 PM GMT+05:00

0:00

May 29, 2020: Inflation in the eurozone single currency area dropped to 0.1 percent in May from 0.3 percent in April, the official Eurostat agency said on Friday.

The drop in prices comes as Europe entered its sharpest recession in EU history because of the lockdowns brought on by the COVID-19 illness.

Economic activity is down across the bloc because of the containment measures imposed by member states to contain the spread of the coronavirus epidemic.

The figure will be a key factor at a meeting of the European Central Bank next week that could decide on more economic stimulus.

In the midst of the coronavirus pandemic, energy prices in May dropped a sharp 12 percent in the 19-country single currency bloc.

Closely watched core inflation, which strips out energy, food, and other products prone to volatile price changes, was at a low 0.9 percent.

AFP/APP

Related News

Name	Price/Vol	%Chg/NChg
KSE100	160,101.03 374.97M	-1.27% -2062.78
ALLSHR	97,525.54 1,017.39M	-1.28% -1263.78
KSE30	48,859.40 134.69M	-1.13% -559.19
KMI30	232,188.88 82.63M	-1.44% -3403.91
KMIALLSHR	63,958.79 443.85M	-1.53% -996.37
BKTi	44,948.04 67.45M	-1.08% -489.73
OGTi	31,541.13 6.10M	-1.89% -609.00

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	115,770.00	116,285.00 113,620.00	700.00 0.61%
BRENT CRUDE	64.77	65.76 64.08	-0.85 -1.30%
RICHARDS BAY COAL MONTHLY	80.50	0.00 0.00	-1.00 -1.23%
ROTTERDAM COAL MONTHLY	92.50	0.00 0.00	0.00 0.00%
USD RBD PALM OLEIN	1,082.50	1,082.50 1,082.50	0.00 0.00%
CRUDE OIL - WTI	60.55	61.50 59.93	-0.76 -1.24%
SUGAR #11 WORLD	14.43	14.59 14.28	-0.03 -0.21%