Euro area annual inflation is expected to be 6.1% in May 2023, down from 7.0% 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, food, alcohol & tobacco is expected to have the highest annual rate in May (12.5%, compared with 13.5% in April), followed by non-energy industrial goods (5.8%, compared with 6.2% in April), services (5.0%, compared with 5.2% in April) and energy (-1.7%, compared with 2.4% in April). {tables} The euro area consists of Belgium, Germany, Estonia, Ireland, Greece, Spain, France, Croatia, ... (full story)