Euro area annual inflation hits new record of 8.1% in May

By Ovunc Kutlu

ANKARA (AA) – Euro area annual inflation spiked to a new record high of 8.1% in May, according to a flash estimate from Eurostat on Tuesday.

The figure jumped from the previous record of 7.4% recorded in April.

Energy is expected to have the highest annual increase of 39.2% in May, the EU’s statistical office said in a statement.

The highest annual gains during the month of May were in Estonia with 20.1%, followed by Lithuania at 18.5% and Latvia with 16.4%, according to Eurostat estimates.​​​​​​​