The May 2022 eurozone inflation is here - Inflation in the eurozone spirals in May to a record 8.1%, four times more than a year ago.

Inflation is reaching levels never seen since the creation of the eurozone. In May, prices rose by 8.1% year-on-year and reached a new all-time high in the euro countries.

The increase in energy and food prices has infected the rest of the products in the grocery trolley. In May, the price of energy rose by 39.2% and food by 7.5%.

As a result, every month inflation tightens a little more. If at the end of 2021 it was at 5%, and in March it touched 7.5%, reflecting the first effects of the war in Ukraine, in May it already exceeds 8%, according to the latest data published today by Eurostat.

May 2022 eurozone inflation

The impact is widespread in all countries. Moreover, if until a few months ago Spain suffered a comparatively higher inflation, due to its greater energy dependence; today there are several countries that suffer much higher increases.

Among the twenty-seven, the inflation rate accelerated in May in all countries except the Netherlands, where it moderated to 10.2% from 11.2% in April. The largest price increases in the EU were recorded in Estonia (20.1%), Lithuania (18.5%) and Latvia (16.8%), while the least strong increases corresponded to Malta and France (both 5.8%) and Finland (7.1%).

In addition to the record harmonized inflation of 5.8% recorded in France, prices also rose at a record pace in Germany during the month of May, with a year-on-year increase of 8.7%, while in Italy, the third economy of the euro, harmonized inflation climbed to 7.3%.

May 2022 eurozone inflation revealed

In the European Union as a whole, the year-on-year inflation rate in May climbed to an all-time high of 8.8% from 8.1% the previous month. In May last year, the year-on-year inflation rate of the twenty-seven was 2.3%.

According to the community statistical office, the escalation of prices in the euro zone in the fifth month of 2022 responded to the year-on-year rise of 39.1% in the price of energy, which accelerated from 37.5% in April, while the increase in the price of fresh food in May was 9% year-on-year, two tenths less than the previous month.

In turn, services became more expensive by 3.5% year-on-year, compared to 3.3% the previous month, while the prices of non-energy industrial goods rose by 4.2%, four tenths more than in April.

# May 2022 eurozone inflation #

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Electricity price for today: these are the most expensive and cheapest hours this Thursday

This Thursday, June 16, 2022, the average price of electricity in the regulated market is 259.01 euros /MWh. Thirty-five euros above the price of electricity last Wednesday: 224.86 euros.

According to data from OMIE (the operator of electricity market designated for the management of the daily market and intraday electricity in the Iberian Peninsula), the price of energy in Spain is 170,81 euros/MWh (above 165,59 on Wednesday), but to this must be added to 88.2 euros (were 59,27 the previous day) in compensation to the electrical company, which gives the total of 259,01 euros.

The minimum amount in the energy price this Thursday (without considering that compensation) is 150 euros (being the cheapest hour from 14:00 to 15:00). Above Wednesday, which was 144.17 euros (between 15:00 and 16:00).

As for the maximum electricity price in Spain, Thursday's is 210.44 euros (the most expensive hour is from 21:00 to 22:00 hours). Higher than the price on Wednesday, which was 194.07 euros (between 0:00 and 1:00).

Unless you are in the free market, your electricity tariff will be divided into different time slots, these are the cheapest slots on Thursday (without considering compensation):

From 2 to 3: 154 euros /MWh.
From 3 to 4: 151.7 euros.
From 4 to 5: 152,11 euros.
From 11 to 12: 154 euros.
From 12 to 13: 154 euros.
From 13 to 14: 157,18 euros.
From 14 to 15: 150 euros.
From 15 to 16: 151,7 euros.
From 16 to 17: 152,11 euros.

Between 0:00 and 1:00, and from 19:00 to 24:00, the pool price will not drop at any time from 190 euros /MWh.

Therefore, if you do not want the electricity bill to skyrocket too much, whenever possible avoid starting the appliances in those time slots.