Eurozone headline inflation hit 8.1% in May, up from 7.5% in April. Energy price inflation was 39.2% in May whilst food inflation hit 7.5% (6.3% in April).
The EU introduced new reduced EU VAT rate setting freedoms on 6th April 2022 which allows member states to use a reduced VAT rate below 5% for the first time on a controlled ranges of goods and services.
Source: vatcalc.com
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