According to the European statistical office, the annual inflation rate of the eurozone has dropped compared to 2.0% of the same month of 2018, and 1.6% in April.

In the EU, the increase of 1.6% of prices in May represented a slowdown against 2.0% in annual terms and 1.9% in the previous month.

The lowest annual inflation rates were recorded in Cyprus (0.2%), Portugal (0.3%) and Greece (0.6%).

And the highest in Romania (4.4%), Hungary (4.0%) and Latvia (3.5%).

Compared with April, the annual inflation dropped in 16 member states, remained stable in five and increased in the other six.