“Consumer Confidence Rises in Eurozone and European Union in May, According to Official Data”

Consumer confidence in the Eurozone improved during the month of May, as did consumer sentiment in the European Union.

Official data showed, on Monday, that consumer confidence in the euro zone improved by 0.1 points in May, from the figure recorded in April.

The European Commission said a quick estimate showed consumer sentiment in the single currency bloc improved to -17.4 this month from -17.5 in April.

Economists polled by Reuters had expected a rise to -16.8.

Consumer sentiment in the European Union as a whole rose 0.6 points to -18.3.

The annual inflation rate in the euro area rose to 7 percent last April, in line with expectations, compared to 6.9 percent in the previous month, as prices continue to be stubborn in the twenty countries that share the euro.

On a monthly basis, the inflation rate in the euro area fell more than expected to 0.6 percent in April, compared to 0.9 percent in March, while expectations were 0.7 percent.

Inflation in the euro zone slowed by the most on record in March to 6.9 percent, with energy prices falling, the lowest level in a year, after peaking at 10.6 percent in October.