Annual inflation reached 4% in Luxembourg in May, the third-highest rate among member countries, behind Poland (4.6%) and Hungary (5.3%). However, neither of these countries use the euro,.

At the bottom end, Greece reported negative inflation at -1.2% followed by Malta (0.2%) and Portugal (0.5%).

In the eurozone, inflation was at 2% on average, driven by energy prices (+1.19 percentage points), services (+0.45) and other industrial goods (+0.19).

Across the EU, inflation was at 2.3% in May, the first rebound above 2% since 2018. The European Central Bank in 2015 had said it would like to keep inflation around but below 2%.

Last week, the ECB decided to leave interest rates unchanged, saying the bump in inflation is likely temporary and linked to energy costs and supply bottlenecks.

This article was first published in French on Paperjam. It has been translated and edited for Delano.