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The euro zone’s annual inflation rate in June is estimated at 5.5% versus 6.1% in May, according to Eurostat’s flash estimate. Food, alcohol and tobacco mark 11.7%, against 12.5% in May, while industrial goods excluding energy 5.5% against 5.8% in May, services 5.4% from 5 % of the previous month and energy -5.6% from -1.8%.
The figure for the unemployment rate for the Eurozone also comes from the European statistical institute: it remained stable at 6.5% compared to April and down from 6.7% a year earlier; in the EU it fell to 5.9% month on year from 6% in April and 6.1% in May 2022. This was revealed by Eurostat, adding that 12.937 million people are unemployed in the EU and 11.014 million in the Eurozone, declining in both areas. The youth unemployment rate was 13.9% in both areas (from 13.8% in the E20 and stable for the EU the month before).
Compared to April 2023, unemployment decreased by 75,000 in the EU and by 57,000 in the euro area. Compared to May 2022, unemployment decreased by 257,000 in the EU and by 227,000 in the euro area. In May 2023, 2.696 million young people (under 25) were unemployed in the EU, of which 2.226 million in the euro area. In May 2023, the youth unemployment rate stood at 13.9% in both the EU and the euro area, respectively increasing and stable rates compared to 13.8% and 13.9% recorded in the month precedent in each of the two zones. Compared to April 2023, youth unemployment increased by 21,000 in the EU and by 11,000 in the euro area. Compared to May 2022, youth unemployment increased by 65,000 in the EU and by 46,000 in the euro area.