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News : EU Economy Last Updated: Jul 1, 2014 - 6:39 AM

Eurozone annual inflation at weak 0.5% in May; German retail sales fell in month
By Finfacts Team
Jun 30, 2014 - 4:33 PM

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Eurozone annual inflation is expected to be 0.5% in June 2014, stable compared with May , according to a flash estimate from Eurostat, the statistics office of the European Union. Meanwhile, in Germany, the Eurozone's biggest economy, retail sales fell in the month.

Looking at the main components of Eurozone inflation, services is expected to have the highest annual rate in June (1.3%, compared with 1.1% in May), followed by energy (0.1%, compared with 0.0% in May), non-energy industrial goods (0.0%, stable compared with May) and food, alcohol & tobacco (-0.2%, compared with 0.1% in May).

The European Central Bank's target rate is below but close to 2%, a level it has not reached since early 2013. The “core” rate, which excludes food and energy prices, rose 0.8%.

Meanwhile, according to provisional data from Destatis, The German federal statistics office, retail turnover in May 2014 in Germany increased 1.9% in real terms and 2.2% in nominal terms compared with the corresponding month of the previous year. The number of days open for sale was 25 in May 2014 and 24 in May 2013.

When adjusted for calendar and seasonal variations, the May turnover was in real terms 0.6% and nominal terms 0.7% smaller than that in April 2014.

Compared with the previous year, turnover in retail trade was in the first five months of 2014 in real terms 1.4% and in nominal terms 2.2% larger than that in the corresponding period of the previous year.

The Eurozone consists of Belgium, Germany, Estonia, Ireland, Greece, Spain, France, Italy, Cyprus, Latvia, Luxembourg, Malta, the Netherlands, Austria, Portugal, Slovenia, Slovakia and Finland.

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