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Financial News: Eurozone Inflation Slows As Estimated In June

Eurozone Inflation Slows As Estimated In June

07/16/2021 - 05:20:00 (RTTNews)

(RTTNews) - Eurozone inflation fell below 2 percent in June, as initially estimated, final data from Eurostat showed on Friday.

Inflation eased to 1.9 percent in June from 2 percent in the prior month. The annual rate came in line with the flash estimate released on June 30.

The inflation rate had exceeded the European Central Bank's target of "below, but close to" 2 percent in May for the first time since 2018.

On a monthly basis, the harmonized index of consumer prices gained 0.3 percent in June.

Core inflation that excludes energy food, alcohol and tobacco, eased to 0.9 percent, as initially estimated, from 1 percent in the previous month. Among components of the harmonized index of consumer prices, food, alcohol and tobacco prices logged a steady growth of 0.5 percent. Energy price inflation slowed to 12.6 percent and services cost rose at a slower pace of 0.7 percent.

Meanwhile, growth in non-energy industrial goods prices increased to 1.2 percent from 0.7 percent in the previous month.

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