Frankfurt, Germany - Inflation to an annual facilitated 2.7% in may for the 17 countries that use the euro, according to official figures published Tuesday. Surprise markets but may not be sufficient to stop the European Central Bank, of the use of its next meeting an increase in interest rates from the signal.
Sales fell by 2.8 per cent the previous month, the Statistical Office of European Union, eurostat said. Market analysts had predicted it would remain stable or even increase to 2.9%.
However, the figure remains above the European Central Bank of a little less than 2% objective and is not likely to deter or delay another increase, said analyst Jonathan Loynes at Capital Economics in London. "Policy of the week meeting next almost certainly signal (via the"vigilant"code word) a further increase in July."
Loynes, said that the figure was disappointing, compared to a steeper drop week last German inflation of 2.7% to 2.4%.
Report of Eurostat Tuesday was only a first estimate of inflation, meaning it could be revised subsequently and contained no details on why the price increases slowed. Economists say that a dip in oil prices was probably the main factor.
The ECB generally gives markets quite clearly a rate to come hike of one month in advance. The "strong vigilance" term used in the Bank's monthly news conference is often the key expression in such cases. Next meeting of the Bank is June 9.
The ECB raised its rate of key by a quarter-point to 1.25% in April and is weighing how fast to continue with increases to avoid built in the economy through higher inflation rising wages.
The Bank relies more on forecasts on monthly figures, which resemble the past. The data will support calls for the Bank to take the slow, but analysts still expect the Bank to move forward with a further increase in July.
President of the Bank and Jean-Claude Trichet said the ECB, authority monetary Chief for the 330 million people living in the euro area, is determined to keep inflation to get to at the outset.
The Bank remained with a message of fighting inflation, although higher rates could make life more difficult for the small part of the euro - Greece, Portugal, and Ireland - that is the strugglig with debt crises and recessions. Board of Directors of the Bank must find an interest rate that suits the euro area as a whole, and most of the monetary zone is growing. Germany, more large economy of the euro, is experiencing strong growth, driven by exports and investments in new machinery and equipment.
During this time, the unemployment rate of the euro area has remained unchanged to 9.9% in April. The lowest rates were 4.2% in Austria and Netherlands, while the Spain continued to struggle with 20.7% and an unemployment rate of young people from less than 25 44% s.
The rate of unemployment for the European Union wider, 27 members was 9.4% in April, a decrease of 9.5% in March.
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