Eurozone annual inflation exceeds expectations

The European Statistics Office (Eurostat) has released the Eurozone’s leading inflation data for June.

Accordingly, annual inflation in the Euro Area, which was 6.1 percent in May, was 5.5 percent in June.

CPI in the Euro Zone increased by 0.3 percent in June compared to the previous month.

Market expectations were for annual inflation to be 5.6 percent and monthly inflation to zero in the Euro Area in June.

Looking at the main components of inflation, the highest annual inflation was 11.7 percent in food, alcohol and tobacco products. While food was followed by non-energy industrial products with 5.5 percent and services with 5.4 percent, energy products decreased by 5.6 percent.

The biggest increase is in Slovakia

According to EU-aligned data, inflation was 11.3 percent in Slovakia, 9 percent in Estonia, 8.3 percent in Croatia, 8.2 percent in Lithuania, 8.1 percent in Latvia and Austria. was 7.8 percent.

The inflation rate was 6.8 percent in Germany, 6.7 percent in Italy, 6.4 percent in the Netherlands and 5.3 percent in France.