Inflation & Prices
Euro-Area Core Inflation Quickened More Than Thought in June
- Underlying prices rose 5.5% last month; initial estimate 5.4%
- Data will cement next week’s widely expected rate hike
Shoppers on Rua do Principe retail street in Vigo, Spain.
Photographer: Brais Lorenzo Couto/BloombergThis article is for subscribers only.
Euro-area underlying inflation, the key measure of price gains for the European Central Bank, accelerated more than initially reported in June, cementing the interest-rate increase widely expected next week.
Core consumer prices, stripping out volatile elements like food and energy, rose 5.5% from a year earlier, Eurostat said Wednesday. That compares with a preliminary estimate of 5.4% and a reading of 5.3% in May.