Eurozone annual inflation was 2.4% in May 2012, down from 2.6% in April (2.7% a year earlier). EU annual inflation was 2.6% in May 2012, down from 2.7% in April (3.2% a year earlier), Eurostat reported, on 14 June. Inflation nevertheless remained above the 2% limit recommended by the European Central Bank for the 18th consecutive month.

In May 2012, the lowest annual rates were observed in Greece and Sweden (both 0.9%) and Bulgaria (1.8%), and the highest in Hungary (5.4%), Estonia (4.1%), Cyprus and Malta (both 3.7%). Compared with April 2012, annual inflation fell in 20 member states, remained stable in three and rose in three.

In the eurozone, the main components with the highest annual rates, in May 2012, were alcohol and tobacco (4.7%), housing (4%) and transport (3.7%), while the lowest annual rates were observed for communications (-3.3%), education (0.7%) and recreation and culture (1.3%).

The main components with the highest monthly rates were alcohol and tobacco (0.4%), household equipment and hotels and restaurants (both 0.2%), while the lowest monthly rates were observed for transport (-1%) and communications (-0.6%). In particular, fruit (+0.03 percentage points), restaurants and cafés and electricity (+0.02 each) had the largest upward impacts, while fuels for transport (-0.15), air transport, heating oil, vegetables and package holidays (-0.02 each) had the biggest downward impacts.