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Financial News: Eurozone Inflation Slows In June

Eurozone Inflation Slows In June

07/02/2024 - 05:33:00 (RTTNews)

(RTTNews) - Eurozone inflation softened in June on slower food and energy price growth, flash data from Eurostat showed on Tuesday.

The harmonized index of consumer prices posted an annual growth of 2.5 percent, which was slower than the 2.6 percent increase in May. The flash rate came in line with expectations.

At the same time, core inflation that excludes prices of energy, food, alcohol and tobacco, held steady at 2.9 percent in June.

On a monthly basis, the HICP gained 0.2 percent in June. Final data is due on July 17.

Data showed that among main components of inflation, services posted the biggest annual increase of 4.1 percent, the same rate as in May.

This was followed by food, alcohol and tobacco, which advanced 2.5 percent but slower than the 2.6 percent increase seen in the prior month. Energy price growth slowed to 0.2 percent from 0.3 percent.

Non-energy industrial goods prices logged a steady growth of 0.7 percent.

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