July 12, 2023

According to the statistical office of the European Union (Eurostat), in June 2023, the euro area annual inflation rate is estimated to decline to 5.5% from the 6.1% reported in May 2023.

Food, alcohol & tobacco is expected to have the highest annual rate of 11.7% relative to 12.5% in May 2023, followed by non-energy industrial goods with a rate of 5.5% (May 2023: 5.8%), services with a rate of 5.4% (May 2023: 5.0%), and energy with a rate of -5.6% (May 2023: -1.8%).

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