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Eurozone inflation eases in June
According to Eurostat, annual inflation in the euro area eased to 2.5% in June, prompting European leaders to ponder solutions to the current economic conditions.
Data showed that annual consumer price growth in the 20 nations sharing the euro currency slowed to 2.5% in June from 2.6% in May. On a monthly basis, consumer inflation in the eurozone fell by 0.1 percentage point, although it remained 0.5 pp above the ECB's target of 2%.
According to estimates, services prices in the euro area increased by 4.1% in June, while prices for various industrial goods rose by 0.7%. The growth rate for alcohol and tobacco decreased to 2.5%. Energy prices saw a 0.2% decline.
At the end of June, annual inflation in the single currency area came in at 2.4%, almost back to the level of March 2024. The June figure was also lower than February's 2.6%.
© InstaFintech Group
