July 02, 2024 09:00 GMT
MNI BRIEF: Eurozone Inflation Slows To 2.5% In June
(MNI) LONDON
(MNI) Sintra
ECB policymakers gather in Sintra as modest inflation dip underlines 'last kilometre' stickiness.
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Euro area inflation slowed modestly in June, with the headline reading dipping to 2.5% from 2.6% in May in line with financial market expectations.
Core inflation was unchanged at 2.9%, data released by Eurostat Tuesday showed. Services inflation was unchanged at 4.1%.
The lower headline number will be welcome news for ECB policymakers as they gather for their annual policy forum in Sintra Portugal. While not yet declaring victory, policymakers have greater confidence that inflation is converging on target and should reach 2% sustainably by the second half of 2025. (See MNI SOURCES: September Rate Cut In Sight For ECB)
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