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FX.co ★ Eurozone Inflation At Fresh Record High

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typeContent_19130:::2022-07-01T09:15:00

Eurozone Inflation At Fresh Record High

Eurozone inflation accelerated further in June to a new record high on surging energy prices, flash data from Eurostat showed on Friday.

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 and economists' forecast of 8.4 percent.

Meanwhile, core inflation that excludes energy, food, alcohol and tobacco, unexpectedly eased to 3.7 percent from 3.8 percent. The rate was forecast to rise to 3.9 percent.

On a monthly basis, the HICP was up 0.8 percent. The final data is due on July 19.

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.

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