Euro area annual inflation is expected to be 1.9% in May 2018, up from 1.2% in April 2018, according to a flash estimate from Eurostat. Looking at the main components of euro area inflation, energy is expected to have the highest annual rate in May (6.1%, compared with 2.6% in April), followed by food, alcohol & tobacco (2.6%, compared with 2.4% in April), services (1.6%, compared with 1.0% in April) and non-energy industrial goods (0.2%, compared with 0.3% in April).