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Eurozone: inflation still negative and jobless rate unchanged

economy

Eurozone: inflation still negative and jobless rate unchanged

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Deflation remains the trend in the eurozone.

Consumer prices continue to slide.

They were down for the second straight month in May according to the initial estimate from the EU’s statistics agency – falling by 0.1 percent compared with the same month last year.

That was an improvement on April’s 0.2 percent dip, mostly due to a slowdown in the decline of energy prices.

A separate Eurostat report showed that the unemployment rate for the eurozone was unchanged at 10.2 percent of the workforce in April.

In Germany the release of the May figures showed the number of people out of work fell more than expected and the jobless rate sank to its lowest level in over 25 years.

Adjusted for seasonal factors it was 6.1 percent.

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