Eurozone Inflation Slows To 2.5% As Estimated
(RTTNews) - Eurozone inflation slowed as initially estimated in June but the European Central Bank is expected to hold its benchmark rate on Thursday as underlying inflation remains too high.
The harmonized index of consumer prices rose 2.5 percent on a yearly basis, which was slower than the 2.6 percent growth posted in May. The 2.5 percent matched the flash estimate published on July 2.
At the same time, core inflation that excludes prices of energy, food, alcohol and tobacco, held steady at 2.9 percent in June, in line with flash estimate.
On a monthly basis, the HICP gained 0.2 percent in June.
Data showed that among main components of inflation, services posted the biggest annual increase of 4.1 percent, the same rate as in May.
This was followed by food, alcohol and tobacco, which advanced by revised 2.4 percent, slower than the 2.6 percent increase seen in the prior month. Energy price growth slowed to 0.2 percent from 0.3 percent.
Non-energy industrial goods prices logged a steady growth of 0.7 percent.
The European Central Bank is set to announce its monetary policy decision on July 18. Markets expect the bank to keep its key rates on hold and refrain from providing more information about its future course of action.
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