Eurozone Annual Inflation Hits New Record Of 8.1% In May. Energy is expected of 39.2%

Euro area annual inflation spiked to a new record high of 8.1% in May, according to a flash estimate from Eurostat on Tuesday.

The figure jumped from the previous record of 7.4% recorded in April.

Inflation in the euro-zone is now at its highest level since record-keeping for the euro began in 1997.

Energy is expected to have the highest annual increase of 39.2% in May, the EU's statistical office said in a statement.

The highest annual gains during the month of May were in Estonia with 20.1%, followed by Lithuania at 18.5% and Latvia with 16.4%, according to Eurostat estimates.
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“Energy inflation is likely to remain higher for longer than previously expected,” after the European Union agreed to embargo most Russian oil imports by the year’s end, said Andrew Kenningham, chief European economist at Capital Economics.

1. The president of the European Council has announced an agreement among EU countries to ban most Russian oil imports to the 27-nation bloc.:
(https://youtu.be/af1xPiILI3s)
2. Ignoring EU sanctions, Serbia secures cheap gas at one third of the EU prices. Oil to new highs:
(https://youtu.be/EOmWsdR6Z6U)
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* Eu's Super Height Commissioner: Why some EU states allowed to block sanctions on Russian oil?:
(https://youtu.be/a7FhhWnNyAI)
** New EU Super Height Advisor: sanctions without oil ban would mean EU unity 'broken':
(https://youtu.be/1U7YZWmwKlY)