Eurozone inflation rate hits three-year high 

A sharp spike in energy prices and more expensive services boosted eurozone consumer inflation in May as expected, data confirmed on Thursday, taking the rate of price growth just above the European Central Banks target, Report informs, citing foreign media.

The European Union's statistics office Eurostat confirmed inflation in the 19 countries sharing the euro rose 0.3% month-on-month for a 2.0% year-on-year increase, as estimated earlier. The ECB wants to keep inflation below, but close to 2%.

In the retail market, the largest price fall was recorded in Greece (1.2 percent), and the highest price rise - in Hungary (5.3 percent).