Inflation in the euro area accelerated to 2% in June

Consumer prices in the euro area grew by 2% in June in annual terms, reaching the European Central Bank's growth target for the first time since February 2017. This is evidenced by preliminary data from the Statistical Office of Eurostat. The acceleration in the growth rate in the price of energy carriers and food products contributed to the increase in inflation. Energy prices rose by 8% year-on-year, food, alcohol and tobacco - by 2.8%. Without taking into account the price of energy, food and alcohol, the growth in consumer prices in June slowed down in annual terms to 1% from 1.1% in May. At the same time, services rose by 1.3% after the advance in prices by 1.6% a month earlier.

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