(BRUSSELS) - Inflation in the 13 countries sharing the euro held steady in May at 1.9 percent, in line with expectations, the European Union's Eurostat data agency said Thursday.

The rate met private economists' expectations to remain unchanged for the third month running in May at 1.9 percent on a 12-month basis.

The rate remains in line with the European Central Bank's preference for an annual inflation rate of less than but close to 2.0 percent to maintain price stability.

With economic activity in the eurozone brisk, the ECB is keen to keep inflation pressures firmly under control and ECB President Jean-Claude Trichet said Monday interest rates in the 13-nation eurozone remained "accommodative" after lifting borrowing costs to a five-and-a-half year high of 4.00 percent last week.

Inflation throughout the 27 nation EU as a whole fell to 2.1 percent in May from 2.2 percent in April.

Further details - Eurostat

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