Euro zone inflation slowed down in June

By: Trademagazin Date: 2023. 07. 19. 14:58

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In June, as previously announced, annual inflation eased to a 17-month low in the euro area, mainly due to the drop in energy prices, according to the data published on Wednesday by Eurostat, the statistical office of the European Union.

According to Eurostat’s final data, inflation in the euro area in June was 5.5 percent, in line with the preliminary estimate, after 6.1 percent in May. The June inflation figure is the lowest since January 2022 in the euro area.
A year ago, last June, the annual increase in consumer prices was 8.6 percent, and this year also started with 8.6 percent inflation in January.

Energy prices fell by 5.6 percent year-on-year in June after a 1.8 percent drop in May. Excluding energy prices, the annual increase in consumer prices was 6.9 percent in June and 7.0 percent in May.

The prices of food, alcohol and tobacco products rose the most in June, by 11.6 percent. In May, the annual price increase was 12.5 percent.