Inflation in the Eurozone Slowed Down

Inflation in the Eurozone slowed down. Eurozone inflation in June was at 1.9 percent.

Inflation in the Eurozone began to calm down in June. Despite the rising expectations of economists for the second half of the year, incoming data also calmed the concerns that the reopening in the economy would cause price increases. According to the announced data, annual inflation was 1.9 percent in June. Economists participating in the Bloomberg survey had also expected inflation to be 1.9 percent annually. On a monthly basis, inflation was 0.3 percent in June. The expectation for this data was at the level of 0.2 percent. While the rise in inflation seems temporary, according to many European Central Bank (ECB) officials, Bundesbank President Jens Weidmann warned about this issue last week. In his speech at the online conference, European Central Bank Governing Council Member and German Central Bank President Jens Weidmann said, "I see that upside risks dominate the price developments in the Eurozone at the moment."