Eurozone May flash CPI matches expectations

Eurozone remained in the deflationary territory for the fourth consecutive month in May, much below the 2% target desired by the European Central Bank (ECB), Eurostat revealed

Consumer prices in the Euroland dropped 0.1% y/y in May, less than the 0.2% fall seen in April, while came in line with expectations of a 0.1% fall in May.

Meanwhile, the core figures, excluding volatile items such as alcohol, tobacco, food and energy - rose 0.8% on an annualized basis in May, after rising 0.7% in April.