According to Eurostat’s flash reading of Eurozone CPI report, the annual reading came in at 2.0% in June, matching expectations. Meanwhile, the core figures eased to 1.0% in the reported month, also coming in line with the expectations and 1.1% previous.
Key Details (via Eurostat):
Looking at the main components of euro area inflation, energy is expected to have the highest annual rate in June (8.0%, compared with 6.1% in May), followed by food, alcohol & tobacco (2.8%, compared with 2.5% in May), services (1.3%, compared with 1.6% in May) and non-energy industrial goods (0.4%, compared with 0.3% in May).
This Eurozone inflation report comes a day after the German Prelim CPI data was released, which showed that the German consumer price inflation rose in line with expectations in June, surpassing the European Central Bank’s (ECB) rate target of just under 2 percent for the Eurozone as a whole.
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