Estimates by Eurostat, or the statistical office of the European Union, showed a moment ago that annual inflation in the eurozone slowed down to 5.5% in June in a preliminary reading, compared to 6.1% in a reading in May, which came below expectations that indicated a rise to 5.6%.

In details, prices in the energy sector declined at an annual rate of 5.6% in June, compared to a decline of 1.8% in May, while food prices rose by 11.7% from 12.5% in May, while the services index rose to 5.45% from 5%.

The main index, excluding food and energy prices, rose 5.4% in June compared to 5.3 in May, while it had been expected to rise to 5.5%.