OREANDA-NEWS. Euro area annual inflation is expected to be -0.1% in May 2016, up from -0.2% in April, according to a flash estimate from Eurostat, the statistical office of the European Union.

Looking at the main components of euro area inflation, services is expected to have the highest annual rate in May (1.0%, compared with 0.9% in April), followed by food, alcohol & tobacco (0.8%, stable compared with April), nonenergy industrial goods (0.5%, stable compared with April) and energy (-8.1%, compared with -8.7% in April).

Geographical coverage

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

The euro area data refer to the country composition at a specific point in time. New Member States are integrated into the aggregate using a chain index formula.