EZ FIG Rises
The latest reading was pushed up by rising inflationary pressures in Germany and Italy while France saw it slowing down. Spain remained unchanged from March.
"As anticipated by the earlier upturn in the EZFIG, euro zone inflation remains in a strong cyclical uptrend. Meanwhile, the EZFIG remains at February's 29-month high," said ECRI's Lakshman Achuthan.
The European Union's statistics office estimated that inflation in the 17 countries using the euro was 2.7 percent year-on-year in May, down from 2.8 percent in April.