Euro Area June Inflation Review

Euro area headline inflation fell to 2.80% in June, driven by lower contributions from services, food, and energy. Core inflation similarly surprised to the downside at 2.39%.

Key Takeaways

• 1.Euro area annual headline inflation reached 2.80% in June, falling from 3.17% in May and coming in below the firm's estimate of 3.04%.
• 2.Core inflation declined to 2.39% in June, below the forecasted 2.56%, as service and food contributions to inflation moderated.
• 3.Country-specific inflation dynamics show cooling in Germany, France, and Italy, while Spanish headline inflation remained unexpectedly sticky at 3.6%.

Table of Contents

• Euro area: June inflation review
• Flash estimate
• Overview of country breakdown
• Disclaimer

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