Eurozone June Inflation Rate Confirmed at 2%

Euro area annual inflation rate was confirmed at a 16-month high of 2 percent in June 2018, up from 1.9 percent in the previous month. Main upward pressure came from energy and food, while services prices rose at a softer pace.

Prices rose at a faster pace for energy (8 percent vs 6.1 percent in May); food, alcohol and tobacco (2.7 percent vs 2.5 percent), of which processed food, alcohol and tobacco (2.6 percent, the same as in May) and unprocessed food (2.9 percent vs 2.4 percent); and non-energy industrial goods (0.4 percent vs 0.3 percent). Meanwhile, services inflation softened to 1.3 percent in June from 1.6 percent in the previous month.

Among Eurozone's largest economies, the highest annual rates were registered in France and Spain (both 2.3 percent), followed by Germany (2.1 percent) and Italy (1.4 percent). 

Annual core inflation, which excludes volatile prices of energy, food, alcohol and tobacco and at which the ECB looks in its policy decisions, was revised to 0.9 percent, below a preliminary reading of 1 percent and May's final 1.1 percent.

On a monthly basis, consumer prices edged up 0.1 percent in June, easing from a 0.5 percent gain in May and matching market consensus.

Eurozone June Inflation Rate Confirmed at 2%

Eurostat | Joana Ferreira |
7/18/2018 9:19:23 AM