Eurozone inflation eases to 2,4% in MayMay 31, 2012 - 16:37 AMT PanARMENIAN.Net - Eurozone inflation eased at a quicker pace than expected in May, EU figures showed Thursday, May 31 giving the struggling 17-nation bloc a rare piece of good news, AFP reported. Annual inflation slowed to 2.4 percent in May compared with 2.6 percent in April and 2.7 percent in March, according to Eurostat data agency. While the inflation rate topped the European Central Bank's ceiling of just under 2.0 percent for the 18th month running, the May figure was better than the average analyst forecast of 2.5 percent compiled by Dow Jones Newswires. The first estimate was published less than a week before the ECB's next policy meeting and could influence the Frankfurt-based bank's decision on whether to lower its main interest rate, currently at a record low of 1.0 percent. The easing of inflation in May was an "all too rare" piece of good news for the crisis-struck eurozone, said Howard Archer, chief European economist at IHS Global Insight. But Archer voiced doubt that the ECB would lower its rate at the June 6 meeting because the bank will likely wait for the outcome of elections in Greece on June 17, which could affect the country's future in the eurozone. Capital Economics analyst Ben May said the fall in inflation and a drop in German unemployment "do not alter our view that economic prospects will worsen over the remainder of the year." Inflation looks set to continue dropping as energy and food prices ease further, albeit at a "slow-motion" pace, said ING bank analyst Martin van Vliet. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | U.S., Armenia sign customs deal According to Armenian customs data, U.S.-Armenian trade reached $670 million last year. Glendale mayor to visit Yerevan Asatryan last visited Armenia in December 2022-January 2023 as she helped establish a partnership between Armenia’s Opera House and Los Angeles Opera. Ucom’s fixed network launches in Nor Hachn City residents will be able to use fixed-line Internet, mobile communications and television in one package at more affordable prices. Ambassador summoned to Russia returns to Armenia Sergei Kopyrkin has returned to Yerevan more than two weeks after being recalled to Moscow for consultations. |