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.