Headline euro area CPI dips in June

Headline euro area CPI dips in June

Headline euro area CPI dips in June

Euro zone headline inflation slowed in June but the core figure excluding volatile unprocessed food and energy rose, the European Union's statistics office said on Monday, confirming its earlier flash estimates.

There was a slight increase in the inflation rate for industrial goods outside the energy sector to 0.4% from 0.3% and this rate was unchanged from the previous year.

The largest upward impacts to the euro area annual inflation came from accommodation services, package holidays and tobacco, while telecommunication, social protection and bread & cereals had the biggest downward impact. On a monthly basis, headline inflation was zero in June, while core inflation was 0.2 percent, Eurostat said. The economy expanded for the sixteenth consecutive quarter in Q1 2017, while indicators suggest that Q2 growth could be at least as strong as the robust 0.6 percent q/q pace seen in Q1.

Currently, the European Central Bank (ECB) are buying €60bn in asset purchases per month in order to combat the low levels of inflation, which is expected to continue until the end of the year reports according to recent reports.

Speculation has mounted since the ECB's last meeting in June that the central bank might be readying markets for tighter policy at its 12:45pm announcement on Thursday. The pair has been on a gradual uptrend since the beginning of the year.

Inflation eased slightly to 1.3% in June from 1.4% in May.

Services prices on the other hand rose by 0.6%.

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