Shopper costs rose by 0.9 p.c in France in June in comparison with the identical month final yr, up from 0.7 p.c in Might, in accordance with the INSEE statistics company.
The rise was linked to quicker will increase in costs for providers – together with lodging, healthcare and transport – together with a “slight acceleration” in meals costs and a smaller drop in power prices, INSEE mentioned.
One other measure of inflation utilized by the eurozone’s statistics company – the Harmonised Index of Shopper Costs (HICP) – reached 0.8 p.c in June in comparison with 0.6 p.c in Might.
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In Spain, inflation as measured by the HICP reached 2.2 p.c in June, up from 1.6 p.c in Might, on account of rising gas and meals costs, official information confirmed.
The ECB lower rates of interest for a seventh consecutive time earlier this month as a result of inflation has stabilised within the eurozone, reaching 1.9 p.c in Might – slightly below its two-percent goal.
After the assembly, ECB President Christine Lagarde declined to remark straight about whether or not the central financial institution would pause its cuts at its subsequent assembly in July, as some anticipate.
However she burdened repeatedly that the ECB was in a “good place”, fuelling expectations it’d quickly hit pause.
