Inflation in the Eurozone came in slower than expected in June to the lowest level since January 2022, but core inflation remains stubbornly high.
According to the preliminary data on Friday, inflation in the Eurozone rose 5.5% in June, which was lower than an expectation for a 5.6% increase by analysts. However, core inflation, which excludes the volatile food and energy prices, rose to 5.4% after edging lower to 5.3% in May and 5.6% in April. Still, it was lower than a consensus for a 5.5% rise.
Despite the lowest level in more than a year, inflation data remains well above the central bank’s target of 2%.
