Eurozone inflation rose slightly in June, ahead of the European Central Bank\u2019s (ECB) next policy-setting meeting later this month.<\/p>\n
The consumer price index (CPI) revealed that consumer prices rose by 2.0% annually last month, according to Eurostat, matching the ECB\u2019s target.<\/p>\n
It was line with expectations, but did marginally accelerate from the 1.9% recorded in May, which was a eight-month low.<\/p>\n
Month-on-month, the reading rose 0.3%, after coming in flat last month.<\/p>\n
Meanwhile core inflation, which strips out more volatile items like food and fuel, climbed 2.3% in the twelve months to June, matching the level seen the month before. This highlights persistent underlying price pressures, particularly in services.<\/p>\n
Services inflation, a key focus for the ECB, rose to 3.3% in June from 3.2% in May, and jumped by 0.7% month-on-month,<\/p>\n
These final figures confirmed the preliminary readings seen at the start of the month.<\/p>\n
It comes as the ECB cut interest rates last month for the eighth time in a year, but indicated it would likely pause at its next meeting thanks to trade uncertainty.<\/p>\n
US president Donald Trump threatened a 30% tariff on EU imports over the weekend, a more severe hit than Europe had anticipated.<\/p>\n
Earlier this month ECB president Christine Lagarde reaffirmed the central bank\u2019s commitment to price stability.<\/p>\n
\u201cMuch of the policy challenge over the last few years has involved stabilising inflation while facing fundamental uncertainty about the economy.”<\/p>\n
Inflation, she noted, had peaked higher than in previous soft-landing episodes, but also decelerated more rapidly. Growth, while muted, remained within the historical range, and the labour market proved “exceptionally benign”.<\/p>\n
\u201cIt will take time for us to gather sufficient data to be certain that the risks of above-target inflation have passed,\u201d she said. \u201cOur work is not done, and we need to remain vigilant.\u201d<\/p>\n
The euro was down around 0.2% against the pound on Thursday, trading at 86.52 pence. Sterling was strengthen by weak UK jobs data which adds pressure on the Bank of England to reduce interest rates.<\/p>\n","protected":false},"excerpt":{"rendered":"Eurozone inflation rose slightly in June, ahead of the European Central Bank\u2019s (ECB) next policy-setting meeting later this…\n","protected":false},"author":2,"featured_media":269783,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3090],"tags":[51,32,1700,1880,82239,16,5664,97801,15],"class_list":{"0":"post-269782","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-business","9":"tag-donald-trump","10":"tag-economy","11":"tag-ftse-100","12":"tag-jobless-claims","13":"tag-uk","14":"tag-unemployment","15":"tag-unemployment-benefits","16":"tag-united-kingdom"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/114869573004690385","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/269782","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=269782"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/269782\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/269783"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=269782"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=269782"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=269782"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}