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|15 June 2018, 5:21 PM|
By Emea Riga
The annual inflation rate rose in May to 1.9% in the euro area and to 2% in the European Union, from 1.3% and 1.5%, respectively, in April, while Romania and Estonia recorded the higher inflation rates in the EU, according to data released Friday by the European Statistics Office (Eurostat).
The ECB wants to keep the price increase close to 2%, which is considered to be beneficial for economic activity.
According to Eurostat, the highest annual inflation rates in the EU were recorded last month in Romania (4.6%) and Estonia (3.1%), while the lowest in Ireland (0.7%) and Greece (0.8% ).
Compared with April 2018, annual inflation has risen to 26 EU member states (including Romania, where it has risen from 4.3% to 4.6%), remained stable in one country and declined to another state.
In the case of the euro area, the most significant impact on annual price increases occurred in May services (0.72 percentage points), energy (0.58 percentage points) and food, alcohol and cigarettes (0.50 percentage points) .
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