Euro area inflation rose in May

<p>Inflation in the euro area rose last month.</p>

Inflation across the euro area rose over the course of last month, according to official data.

Figures released by the European Commission shows that inflation was up to 1.4 per cent in May, which is a rise from the 1.2 per cent recorded in the previous month.

However, it was noted by Eurostat, the statistical office of the European Union, that this still represents a major drop on the data from a year ago, when inflation in the euro area was as high as 2.4 per cent.

The European Commission noted that monthly inflation was 0.1 per cent in May, while it was also pointed out that European Union annual inflation was 1.6 per cent in May 2013, a rise from 1.4 per cent in April.

Aston Goodey, sales and marketing director for MGM Advantage, recently explained households in the UK are still feeling the pain of high rates of inflation, even though the headline figure dipped from 2.8 per cent in March to 2.4 per cent in April.

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