Energy Market & Energy Statistics

Aenert news. Energy Market & Energy Statistics
The Eurostat statistical office predicts that EU inflation in May 2023 will be 6.1 %, almost one percent lower compared to 7% in April.

Food, alcohol and tobacco are expected to have the highest annual rate in May (12.5% versus 13.5% in April), ahead of non-energy industrial goods (5.8% versus 6.2% in April), services (5.0% versus 5.2% in April).

Energy inflation in the EU even dropped to -1.7% in May 2023, down from 2.4% in April.



The graph above shows inflation in the euro area and its main components, reflecting the ups and downs since May 2013. As can be seen, inflation in the energy sector shows frequent fluctuations in both directions. The year 2022 is illustrative, as it reflects the strong increase in the consumer price index for energy. However, energy is not the main contributor to the headline inflation in the euro area.



Services have the largest weight in the household final monetary consumption expenditure with 43.5%, followed by non-energy industrial goods (26.3%), food, alcohol & tobacco (20%) and energy (10.2%). Although energy and food, alcohol & tobacco together comprise less than one third of euro area expenditure, they are nevertheless not the last factor affecting the headline inflation in the euro area, because their prices are subject to much larger fluctuations than other components.



By the Editorial Board