Inflation Data in Europe Published: Here’s Bitcoin’s Reaction

Eurozone core CPI was announced as 2.9% annually (expected 2.9%, previous 2.9%).

Eurozone annual CPI was 2.6% (estimated 2.6%, previous 2.6%).

Bitcoin price, which decreased today, reacted to the development by following a horizontal course.

A year ago the inflation rate was 6.1%. European Union annual inflation increased from 2.6% in April to 2.7% in May 2024. A year ago, this rate was 7.1%. These figures were published by Eurostat, the statistical office of the European Union.

The lowest annual rates were recorded in Latvia (0.0%), Finland (0.4%) and Italy (0.8%). The highest annual rates were recorded in Romania (5.8%), Belgium (4.9%) and Croatia (4.3%). Compared to April, annual inflation decreased in eleven member states, remained stable in two member states and increased in fourteen member states.

In May, the highest contribution to the euro area annual inflation rate came from services (+1.83), followed by food, alcohol and tobacco (+0.51), non-energy industrial goods (+0.18) and energy (+0.04 pp).

*This is not investment advice.

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