Eurozone inflation falls to 2.5%

GBPEUR=X +0.21% GBP=X -0.16% EUR=X +0.06% LaToya Harding·Business Reporter, Yahoo Finance UK Updated Tue 2 July 2024 at 11:57 am GMT+2 In this article: GBPEUR=X +0.25% GBP=X -0.17% EUR=X +0.06% European Central Bank President Christine Lagarde, eurozone inflation Figures from Eurostat showed that core inflation, which strips out volatile food and energy prices, was unchanged at 2.9%, as services inflation remained stubbornly high at 4.1%. (BJ Warnick, Newscom)

Eurozone inflation slowed slightly last month, falling from 2.6% in May to 2.5%, amid declining energy prices.

Official figures from Eurostat showed that core inflation, which strips out volatile food and energy prices, was unchanged at 2.9%, as services inflation remained stubbornly high at 4.1%.

It had been predicted to fall to 2.8%.

Overall, slowing price rises in the 20 countries that share the euro will provide some relief for the European Central Bank (ECB). Last month the ECB cut interest rates in expectation of inflation hitting its 2% target by next year.

By LaToya Harding.

Full story at Yahoo News.