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Germany shows mixed inflation data
According to Reuters, economists expect Germany's inflation rate to continue declining in May and approach the European Central Bank's 2% target. However, data released on Friday presents an inconsistent picture across the country.
In Bavaria, inflation remained unchanged at 2.1% in May, while in Baden-Württemberg it fell slightly to 2.2% from 2.4% in April. In contrast, North Rhine-Westphalia saw an increase to 2.0% from 1.8%, and Lower Saxony rose to 2.3% from 2.2%.
A Reuters poll of economists projects German inflation at 2.0% for May, down from 2.2% in the previous month. This data will be closely monitored by market participants, as Germany's figures are set to be released before the eurozone-wide data. For the eurozone as a whole, inflation is expected to ease to 2.1% in May from 2.2% in April.
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