Agency. According to flash estimates published by Eurostat on Tuesday, the annual inflation rate in the eurozone reached 2 percent in June. It has increased from 1.9 percent in May to 2 percent.
The price of services drives inflation. It recorded an annual inflation rate of 3.3 percent in June. Which has increased from 3.2 percent in the previous month. Prices of food, alcohol and tobacco products registered an annual inflation rate of 3.1 percent in June. Which decreased from 3.2 percent in May. Inflation in non-energy industrial goods declined to 0.5 per cent in June from 0.6 per cent in May.
A negative inflation rate of -2.7 per cent has been recorded for energy prices. Which has increased from -3.6 percent in May. Except for energy, food, tobacco and alcohol prices, the main inflation remained unchanged at 2.3 per cent in June. Germany, one of the eurozone’s major economies, recorded an inflation rate of 2 per cent from 2.1 per cent in May.
France recorded an increase of 0.8 percent inflation from 0.6 percent in May, and Spain’s inflation rate rose to 2.2 percent from 2 percent in May. Estonia recorded the highest inflation rate of 5.2 percent. Which has increased from 4.6 percent in the previous month.
While Cyprus registered the lowest inflation rate for June at 0.5 percent. Which has increased from 0.4 percent in May. Inflationary pressures have clearly weakened as wage growth slows and economic performance slows. Which has kept the door open for another rate cut in the autumn.
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