Türkiye, İstanbul
The annual inflation rate was at 3.2% in the euro area in May, up from 3% in April, related to higher energy prices, official figures showed on Tuesday.
Energy prices, increasing due to ongoing tensions in the Middle East, hiked 10.9% year-on-year in May in eurozone, according to Eurostat data.
After the beginning of the US and Israel’s attacks on Iran as of Feb. 28, Iran’s decision to close the strategic waterway Hormuz and attacks on energy plants severely affected global oil and gas prices.
In the euro area, non-energy inflation rate was at 2.4% in May.
The annual inflation rate in the region has been increasing since February, marking the fourth consecutive monthly gain.
Among eurozone countries, highest rates were seen in Bulgaria with 6.3%, Lithuania with 5.1% and Greece with 5% in May.
