Brussels – Saba:
Final data released by the European Statistical Office "Eurostat" on Thursday showed a slight increase in the eurozone's inflation rate in June, reaching the European Central Bank's target of 2%, in line with preliminary estimates.
The inflation rate rose by 2% year-on-year in June, compared to 1.9% in May, consistent with the estimates issued on July 1.
Core inflation, which excludes energy and food prices, remained stable at 2.3%, matching analysts' expectations. Meanwhile, the Harmonized Index of Consumer Prices (HICP) increased by 0.3% month-on-month, aligning with initial estimates.
The data revealed a 2.6% annual decline in energy prices in June, compared to a 3.6% drop in May.
Prices of non-energy industrial goods rose by 0.5% in June, down from 0.6% in May.
On the other hand, the services sector inflation rate saw a slight increase to 3.3% in June, up from 3.2% in May.
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