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Inflation declines in most EuroZone countries

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Inflation declines in most EuroZone countries

Low inflation seen as hampering recovery.

In May, annual inflation decreased in all Euro Area countries except France, where price growth remained steady at 0.8%.

Germany and the Netherlands experienced the largest declines in inflation – from 1.1% to 0.6%, and from 0.6% to 0.1%, respectively. Outside the Euro Area, inflation grew modestly in Norway (from 1.5 to 1.6%) and Switzerland (from 0.1 to 0.2%), as well as in the U.S. (from 1.8 to 2.0%).

"The sharp decline of inflation in Germany, the Euro Area's largest economy, underscores the region's uncertain path to recovery." 

"In May, inflation below 1% continued to plague the Euro Area for the eighth consecutive month," said Elizabeth Crofoot, Senior Economist with the International Labor Comparisons program at The Conference Board. "The sharp decline of inflation in Germany, the Euro Area's largest economy, underscores the region's uncertain path to recovery. In Japan, inflation continued to accelerate in the wake of a national sales tax hike in April. At 4.5%, Japanese inflation in May was the highest in over 30 years."

May inflation dipped below 1% in all Euro Area economies compared except Austria (1.5%). Inflation is above 1% in Norway and the U.K., at 2.0% in the U.S., and 4.5% in Japan. May inflation was lower than price growth a year ago in all countries except Japan, the U.S. and Switzerland.

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