Eurozone’s Inflation surged 8.6% in June, on an annualized basis, according to Eurostat’s final reading of the Eurozone Harmonised Index of Consumer Prices (HICP) report for the month.
The reading matched expectations of 8.6% while against the 8.6% previous. Core figures rose by 3.7%, meeting the 3.7% market estimates and 3.7% last.
The bloc’s HICP rose by 0.8% versus 0.8% expected and 0.8% first readout while the core HICP numbers came in at 0.2% versus 0.2% expected and 0.2% seen previously.
The lowest annual rates were registered in Malta (6.1%), France (6.5%) and Finland (8.1%). The highest annual rates were recorded in Estonia (22.0%), Lithuania (20.5%) and Latvia (19.2%).
Compared with May, annual inflation fell in two Member States and rose in twenty-five. In June, the highest contribution to the annual euro area inflation rate came from energy (+4.19 percentage points, pp), followed by food, alcohol & tobacco (+1.88 pp), services (+1.42 pp) and non-energy industrial goods (+1.15 pp).
At the press time, EUR/USD is trading at 1.0238, higher by 0.95% on the day.
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