July 17, 2024

The euro area annual inflation rate fell to 2.5% in June 2024, from 2.6% in May. A year ago, the rate was 5.5%. Annual inflation in the European Union fell to 2.6% in June 2024, from 2.7% in May. A year ago, the rate was 6.4%. These figures are issued by Eurostat, the European Union’s statistical office.

Finland had the lowest annual rates (0.5%), followed by Italy (0.9%) and Lithuania (1.0%). Belgium had the highest yearly rates (5.4%), followed by Romania (5.3%), Spain, and Hungary (3.6%). Compared to May 2024, annual inflation declined in seventeen Member States, held stable in one, and increased in nine.

In June 2024, services (+1.84%)  contributed the most to the annual euro area inflation rate, followed by food, alcohol, and tobacco (+0.48%), non-energy industrial goods (+0.17%), and energy (+0.02%).

(Source: Eurostat)

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