Euro Area: Harmonized inflation rises in June
Latest reading: Harmonized inflation came in at the ECB’s target of 2.0% in June, which was up from May’s 1.9%. Looking at the details of the release, services prices rose at a quicker pace in June compared to the previous month. Moreover, energy prices fell at a softer rate.
The trend was unchanged, with annual average harmonized inflation coming in at May’s 2.2% in June. Meanwhile, core inflation was stable, coming in at May’s 2.3% in June.
Lastly, harmonized consumer prices increased 0.28% from the previous month in June, contrasting May’s 0.05% drop.
Outlook: Our panel see inflation around target throughout the remainder of the year, kept in check by downbeat oil prices.