Economic Buzz: Eurozone Inflation At Record High In June

1 Jul 2022 , 03:33 PM

Eurozone inflation accelerated further in June to a new record high on surging energy prices, flash data from Eurostat showed. The harmonized index of consumer prices advanced by 8.6 percent on a yearly basis in June, faster than the 8.1 percent rise in May. Meanwhile, core inflation that excludes energy, food, alcohol and tobacco, unexpectedly eased to 3.7 percent from 3.8 percent. On a monthly basis, the HICP was up 0.8 percent. The record high inflation was driven by the 41.9 percent increase in energy prices. This was followed by an 8.9 percent rise in food, alcohol and tobacco prices and 4.3 percent growth in non-energy industrial goods prices. Services cost advanced 3.4 percent.Powered by Commodity Insights