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The final inflation report from the European statistics agency Eurostat shows that core inflation – excluding energy, tobacco, alcohol and food prices – in the eurozone was 5.5 per cent. This is 0.1 percentage point more than the initial measurements.
Why is this important?
ECB Governing Council members pay close attention to core inflation when discussing interest rate policy. So far, it is more than double the SAMA’s target of 2 percent.In the news: Core inflation in the euro area was 5.5 percent in June. In the primary inflation report, Eurostat assumed a core inflation rate of 5.4 percent.
- That 0.1 percentage point difference doesn’t sound like much, but it does indicate that core inflation is gaining more momentum than expected. In May it was 5.3 percent.
- Overall inflation for the month of June is still on the final report Unchanged at 5.5 percent. Unlike core inflation, it continues to weaken. on
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