The annual inflation rate in the euro area rose to 8.6% in June

Annual inflation in the euro area hit a new record after reaching 8.6% in June, in line with expectations, up from 8.1% recorded in May.

The inflation rate rose on a monthly basis by 0.8%, also in line with expectations, and it also rose by the same rate in May.

The core inflation rate on an annual basis excluding food and energy in the euro area rose by 3.7%, down slightly from the May rate of 3.8%.