Eurozone remains gripped by deflation in May

The euro area consumer prices remained in negative territory for the fifth consecutive month in May, final data confirmed on Thursday.

Eurostat showed that consumer prices in Eurozone dropped 0.1% y/y in May, having slowed its pace of decline after April's 0.2% drop. The final data matched the decrease predicted by the preliminary data.

Meanwhile, the core figures, excluding volatile items, rose 0.8% y/y in May, after rising 0.7% in April and in line with the preliminary reading.