Economics
Euro-Area Inflation Hits 2% Level Amid Boost From Oil Prices
- ECB is looking for a sustainable pickup in price growth
- Draghi has cited labor market as reason for confidence
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Euro-area inflation hit the 2 percent level in June for the first time in more than a year, supported by higher oil prices.
The pickup in rate of price growth to just above the European Central Bank’s target was in line with the median estimate of economists surveyed by Bloomberg. The core measure, which excludes volatile components such as food and energy slowed to 1 percent, while services inflation cooled to 1.3 percent.