Inflation in the Eurozone slowed in June to 5.5%

Inflation in the Eurozone slowed to 5.5% in June, in line with expectations, after 6.1% in May.

Inflation in the eurozone for the month of June came in at the lowest level since January 2022.

Despite this slowdown, core inflation, which excludes volatile items such as food and energy, rose to 5.5%, above expectations of 5.4% and supporting the view that ECB policymakers are likely to continue raising interest rates through the coming months.

Energy prices declined by 5.6%, while prices rose at a weaker pace for foodstuffs, alcohol and tobacco, i.e. 11.6%, and non-energy industrial goods by 5.5%.