Eurozone inflation confirmed at 2.0% in June

(Sharecast News) - Eurozone inflation rose as expected in June, according to final estimates released on Thursday by Eurostat, with consumer prices increasing in line with the European Central Bank's target rate of 2%. The annual increase in the consumer price index for the single-currency region was confirmed at 2.0% in June, up from the eight-month low of 1.9% registered in May.

This was in line with the initial estimate released two weeks ago.

Upwards pressure on consumer price inflation came from services inflation rebounding from a three-year low of 3.2% to 3.3%, while energy price deflation eased to -2.7% from -3.6%. Meanwhile, increases in non-energy industry goods slowed to 0.5% from 0.6%, while food, alcohol and tobacco inflation eased to 3.1% from 3.2%.

Core inflation across the eurozone, which excludes food and energy, was unchanged over the month at 2.3% - its lowest since January 2022.