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Financial News: Eurozone Inflation Eases Slightly In June

Eurozone Inflation Eases Slightly In June

06/30/2017 - 05:13:00 (RTTNews)

(RTTNews) - Eurozone inflation eased slightly in June on slowing energy price growth, flash data from Eurostat showed Friday.

Consumer prices climbed 1.3 percent year-on-year in June, slightly slower than the 1.4 percent increase seen in May. Inflation was forecast to slow to 1.2 percent.

The European Central Bank targets inflation 'below, but close to 2 percent.'

Meanwhile, core inflation, which excludes energy, food, alcohol & tobacco, accelerated to 1.1 percent from 0.9 percent a month ago. The rate was expected to ease to 1 percent.

Among components, food, alcohol and tobacco prices climbed 1.4 percent annually, following a 1.5 percent rise in May. Energy price growth eased sharply to 1.9 percent from 4.5 percent.

On the other hand, services cost grew at a faster pace of 1.6 percent after rising 1.3 percent. Non-energy industrial goods prices gained 0.4 percent versus 0.3 percent in the previous month.

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