Eurozoneofficial inflation stable at 2.7% in June

Eurozone inflation was steady at 2.7 per cent in June, unchanged from May but above the target set by the European Central Bank, the Eurostat data agency said yesterday, confirming an earlier estimate. Inflation had eased slightly in May to 2.7 per...

Eurozone inflation was steady at 2.7 per cent in June, unchanged from May but above the target set by the European Central Bank, the Eurostat data agency said yesterday, confirming an earlier estimate.

Inflation had eased slightly in May to 2.7 per cent after reaching a 30-month peak of 2.8 per cent in April.

Inflation in the 17-nation single currency area has now exceeded the ECB’s two per cent target for seven consecutive months.

The central bank raised its benchmark lending rate to 1.50 per cent last week after raising it to 1.25 per cent in April.

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