Eurozone Inflation

Eurozone

Eurozone: Increase in inflation moderates in June

July 16, 2015

More complete data released by Eurostat on 16 July showed that harmonized consumer prices were unchanged in June over the previous month. June’s subdued print came in below the 0.2% increase observed in May and was in line with market expectations. According to Eurostat, energy prices remained unchanged In June, while prices for food, alcohol and tobacco fell over the previous month. Inflation inched down from 0.3% in May to 0.2% in June, marking the second consecutive positive reading after four months of drops.

At a country level, 11 of the 19 Eurozone economies showed inflation rates equal or above the regional average. Malta (+1.1% year-on-year), Austria (+1.0% yoy) and Belgium (+0.9% yoy) showed the highest inflation rates, while Cyprus (-2.1% yoy), Greece (-1.1% yoy) and Slovenia (-0.9% yoy) were the Eurozone countries that showed the lowest rates. Among the largest economies in the common-currency area, in Germany harmonized inflation declined to 0.1% in June (May: +0.7% yoy), while in France in remained unchanged at May’s 0.3%. In Italy HICP inflation stabilized at May’s 0.2% in June while in Spain inflation was flat (May: -0.3% yoy).

FocusEconomics Consensus Forecast participants see inflation in the Euro area averaging 0.2% in 2015, which is up 0.1 percentage points from last month’s forecast. For 2016, panelists expect inflation to average 1.3%.


Author:, Senior Economist

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Eurozone Inflation Chart


Euro Inflation by country June 2015

Note: Year-on-year var. of harmonized consumer price index (HICP) in %.
Source: Eurostat


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