Eurozone Inflation June 2019


Eurozone: Inflation inches up in June

July 17, 2019

Complete data confirmed harmonized inflation came in at 1.3% in June, up from May’s 1.2% and coming in a notch above the preliminary estimate. Inflation sits below the European Central Bank’s target rate of near, but under, 2.0%. Higher price pressures for services largely drove the uptick.

Annual average harmonized inflation inched down to 1.7% in June, from May’s 1.8%. Core inflation, meanwhile, rose to 1.35 (May: 1.0%). On a monthly basis, harmonized consumer prices rose 0.2% in June, slightly above May’s 0.1% increase.

Among the countries in the common-currency bloc, Greece (0.2%) and Cyprus (0.3%) recorded the lowest inflation in June. On the flipside, Latvia (3.1%) and Slovakia (2.7%) experienced the highest price pressures. Regarding the largest economies in the Eurozone, inflation fell in Italy and Spain but picked up in Germany and France in June.

FocusEconomics Consensus Forecast participants see inflation in the Euro area averaging 1.3% in 2019. For 2020, panelists expect inflation to average 1.5%.

Author: Angela Bouzanis, Lead Economist

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Eurozone Inflation Chart

Euro Area Inflation June 2019 3

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

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