Prices continue to rise, but not quite as much.
(Photo: IMAGO/Martin Wagner)
Frankfurt Inflation in the euro area continues to decline. In June, consumer prices increased by 5.5 percent compared to the same month last year. This was announced by the European statistical office Eurostat on Friday based on an initial estimate.
Experts had expected prices to rise by 5.7 percent. In May, the inflation rate was still 6.1 percent.
The much-noticed core inflation rate, on the other hand, rose slightly to 5.4 percent (previous month: 5.3 percent). The inflation rate adjusted for energy and food is considered a good indicator of the medium-term price trend. The statistical offices in Spain, Italy and France had previously reported a fall in inflation. In Germany, on the other hand, the rate rose.
The inflation rate is still well above the European Central Bank’s (ECB) medium-term target of two percent. The central bank sees price stability at this value.