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Eurozone consumer price growth accelerated in June
According to the report from Eurostat, the statistical office of the European Union, the euro area annual inflation rate was 1.3% in June 2019, up from 1.2% in May. A year earlier, the rate was 2.0%. European Union annual inflation was 1.6% in June 2019, stable compared to May. A year earlier, the rate was 2.1%.
The lowest annual rates were registered in Greece (0.2%), Cyprus (0.3%), Denmark and Croatia (both 0.5%). The highest annual rates were recorded in Romania (3.9%), Hungary (3.4%) and Latvia (3.1%). Compared with May, annual inflation fell in seventeen Member States, remained stable in one and rose in nine.
In June, the highest contribution to the annual euro area inflation rate came from services (+0.73 percentage points, pp), followed by food, alcohol & tobacco (+0.30 pp), energy (+0.17 pp) and non-energy industrial goods (+0.07 pp).
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