Average inflation in the Eurozone rises slightly in June, but remains well within the limits set by the European Central Bank. Last month, the average growth in consumer prices stood at 1,6% on an annual basis, against +1,4% in May. According to the final data published by Eurostat, between May and June prices increased by an average of 0,1%.
The fresh vegetables (+0,11 points), fruit and electricity (both +0,09 points) items mainly pushed the figure upwards. Conversely, the greatest negative contributions came from telecommunications (-0,20 points), transport fuels (-0,11 points) and medical and paramedical services (-0,08 points).
The ECB's official objective is to keep inflation below but close to 2% on an annual basis. Recently, President Mario Draghi and several members of the directorate said they intend to keep interest rates low, at current levels or even lower, for an extended period of time. Official rates in the euro area are currently at an all-time low of 0,50%.
