The Federal Statistical Office (Destatis) recently reported that annual inflation in the eurozone’s largest economy rose to 2% in June, according to a preliminary reading, compared to 2.1% in May. This reading was revised to 1.9%, matching expectations. On a monthly basis, the index remained flat in June, at 0.0%.
The core index, which excludes food and energy prices, grew by 2.7% in June, compared to 2.8% in May.
In detail, food inflation rose by 2%, up from 2.8% in May. Services inflation rose to 3.3%, up from 3.4%, and energy inflation fell to -3.5%, down from -4.6% in May.
Markets are awaiting eurozone inflation figures due Tuesday, with estimates indicating that inflation will rise to 2% in June.