Euro area CPI inflation slows in June

Inflation pressures in the single currency bloc ebbed in June.

According to Eurostat, the headline rate of euro area consumer price increases slowed from the 6.1% year-on-year pace observed in May to 5.5% for June, as expected.

At the core level on the other hand, the annual CPI rate edged up from 5.3% to 5.4%, although economists too had correctly anticipated that.

In comparison to the month before, energy prices were the main drag, falling by 0.7% while prices for non-energy industrial goods dipped by 0.1%.

Services prices however increased by 0.6% and those for food, alcohol and tobacco by 0.4%.

Headline and core CPI both rose by 0.3% versus May.

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