Deflation in the eurozone narrowed to 0.1% in May from a 0.2% year-on-year price decline in April, according to figures from the European Union's statistics agency.

The "flash" estimate for May from Eurostat showed rising prices for services, food, alcohol and tobacco, and industrial goods unrelated to energy helped mitigate a decline led by lower energy prices.

The result was in line with analysts' forecasts and if confirmed in a later report means eurozone prices would have fallen year-on-year in three out of five months so far this year.

Eurostat also released figures putting the April unemployment rate for the eurozone at 10.2%, as expected and unchanged from March.