Inflation weakens somewhat in the eurozone

Inflation weakens somewhat in the eurozone

In the euro zone, the inflation rate fell slightly in june. Year-on-year, consumer prices increased by 1.9 percent, as the statistics office eurostat announced on wednesday after a first estimate in luxembourg.

In the previous month, the inflation rate in the countries with the euro currency was 2.0 percent. Prices rose by 0.3 percent month-on-month.

Energy prices rose particularly sharply again in june, increasing by 12.5 percent compared to the same month last year. All other product categories rose at below-average rates, while prices for unprocessed food actually fell slightly year-on-year.

The annual rate for core inflation fell from 1.0 percent in may to 0.9 percent in june. Core inflation is considered by many economists to be decisive for the basic price trend, as it excludes fluctuating prices for energy and food.

The ECB is aiming for an inflation rate of just under two percent in the medium term. Recently, members of the central bank had made it clear on several occasions that no monetary policy reactions were to be expected for the time being if the target mark was exceeded.

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