Inflation

Europe sees inflation drop to 6.1 per cent, but real relief for consumers will take time

Core inflation, which excludes volatile food and energy, fell to 5.3 per cent from 5.6 per cent in April

  • June 1, 2023
Economists say it will be many months before consumers see more normal levels of inflation reflected on price tags in shops

Europe’s inflation has taken a positive turn with a significant drop to 6.1 per cent – but prices are still posing a pinch to shoppers who are yet to see real relief in what they pay for food and other necessities.

The annual figure in May eased from 7 per cent in April for the 20 countries that use the euro currency, the European Union’s statistical agency Eurostat said today.

It is a welcome sign ...