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Financial News: Eurozone June Inflation Unrevised; Core Inflation Eases Mo

Eurozone June Inflation Unrevised; Core Inflation Eases More Than Expected

07/18/2018 - 05:24:00 (RTTNews)

(RTTNews) - Euro area annual inflation accelerated in June, exceeding the European Central Bank's target of "below, but close to 2 percent", final data from Eurostat confirmed Wednesday.

The annual inflation rate rose to 2 percent from 1.9 percent in May, in line with the flash estimate release on June 29.

The biggest contribution came from energy, followed by services, and food, alcohol and tobacco.

Fresh food inflation climbed to 2.9 percent from 2.4 percent. Energy inflation rose to 8 percent from 6.1 percent.

Compared to the previous month, prices edged up 0.1 percent in June. Core inflation, excluding energy, food, alcohol and tobacco, eased to 0.9 percent from 1.1 percent in May. Initially, the core inflation for June was estimated as 1 percent.

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