Euro area inflation accelerated as estimated in June to set a fresh record high, driven by higher energy and food prices, latest data from Eurostat confirmed Tuesday. Headline consumer price inflation surged to 8.6 percent from 8.1 percent in May. Core inflation, which excludes prices of energy, food, alcohol and tobacco, slowed to 3.7 percent from 3.8 percent.
Compared to the previous month, consumer prices rose 0.8 percent in June. All figures matched their flash estimates. The biggest contribution to the annual euro area inflation rate came from energy, followed by food, alcohol & tobacco, services and non-energy industrial goods, Eurostat said.
