Eurozone: Inflation confirmed at 0.3% over one year in June 

Consumer prices in the eurozone rose slightly in June but an adjusted measure of the most volatile components shows lower inflation, Eurostat said on Friday, confirming a first estimate.

Consumer prices in the 19 countries that have adopted the single currency rose 0.3% last month on an annual basis, compared with an increase of 0.1% in May.

Despite this acceleration in inflation, the rise in prices remains far from the European Central Bank (ECB) target of an inflation rate close to but below 2% in the medium term.

Prices for food, alcohol and tobacco rose 3.2% year-over-year, while prices in the services sector rose 1.2% in June.

This helped offset the 9.3% drop in energy prices.

Excluding the price of energy and unprocessed foodstuffs – a so-called “core” inflation measure favored by the ECB -, the rise in prices stood at 1.1% on an annual basis, compared with 1.2% in May.

An even more adjusted inflation measure, also excluding alcohol and tobacco, fell to + 0.8% year-on-year, against + 0.9% in May.

Inflation in the eurozone rose 0.3% in June on a monthly basis.

Source: Eurozone: Inflation confirmed at 0.3% over one year in June – Boursorama

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