Core inflation in the Eurozone softened in June, with the Harmonised Index of Consumer Prices excluding energy and food (HICP ex Energy and Food) rising 0.2% month-over-month, down from 0.3% in May 2026. The latest data, updated on 1 July 2026, indicate a modest cooling in underlying price pressures across the currency bloc.
The previous reading for May, also measured on a month-over-month basis, showed a 0.3% increase compared with April, underscoring that the pace of core price growth has edged lower as of June. Since the current “actual” figure reflects the change from May to June and the “previous” figure reflects the change from April to May, the data suggest that the underlying trend in Eurozone inflation—stripped of the more volatile energy and food components—has lost a little momentum heading into the second half of 2026.
While the headline rate is not provided, the easing in HICP ex Energy and Food is closely watched by markets and policymakers as a gauge of persistent inflation dynamics. The slight month-over-month deceleration may add to expectations that price pressures are gradually stabilizing, although the full policy implications will depend on forthcoming data releases and broader economic conditions across the Eurozone.
