Inflation in the euro zone fell by 2.8% as energy prices fell

BRUSSELS, July 2, 2017 (WAM) – The inflation rate in the euro zone decreased by 2.8 percent last June, after rising in the previous period as a result of a jump in energy prices against the backdrop of developments in the Middle East.

Data issued by the European Statistical Office (Eurostat) on Wednesday showed that inflation in the single currency area, the euro, fell from 3.2 percent in May to 2.8 percent in June, approaching again the European Central Bank’s target of 2 percent.

Inflation in energy prices also decreased to 8.7 percent during June, compared to 10.8 percent in the previous month, while inflation in food prices fell to 1.6 percent, and in the services sector to 3.2 percent.

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