Eurozone Inflation Rises In June

Eurozone inflation climbed in June, according to final data from Eurostat, released Wednesday.

Consumer prices rose by a revised 1.3 percent year-on-year in June, slightly faster than the 1.2 percent rise in May. The flash estimate showed a steady growth of 1.2 percent in June.

The European Central Bank targets inflation “below, but close to 2 percent.”

Core inflation that excludes energy, food, alcohol and tobacco, increased to 1.1 percent, as initially estimated, from 0.8 percent in May.

Month-on-month, the harmonized index of consumer prices gained 0.2 percent in June.

Among components of HICP, cost of food and services increased 1.6 percent each, Eurostat data showed. Energy prices grew 1.7 percent, while non-energy industrial goods prices gained only 0.3 percent in June.

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Source:: Eurozone Inflation Rises In June

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