Eurozone Inflation Dips Slightly, But ECB Remains Cautious
Inflation in the 20-nation eurozone decreased to 2.5% in June, down from 2.6% in May. Despite this decline, the rate remains above the European Central Bank's preferred level. Key indicators suggest inflation could stay between 2% and 3% for some time, with service prices steady at 4.1%.
![Eurozone Inflation Dips Slightly, But ECB Remains Cautious](https://devdiscourse.blob.core.windows.net/aiimagegallery/21_06_2024_04_09_46_521679.png)
- Country:
- Germany
Inflation in the 20-nation eurozone crept lower to 2.5% in June, but it remains above the European Central Bank's (ECB) favored threshold. The ECB is not rushing to introduce more rate cuts following a tentative reduction in its benchmark rate.
The latest figure released on Tuesday showed a slight decline from 2.6% in May. While this is a positive sign as inflation continues its fall from the peak of 10.6% that severely impacted consumer spending power, troubling indicators suggest inflation may linger between 2% and 3%.
Service prices ran at 4.1%, unchanged from the previous month, indicating persistent inflationary pressure in this sector.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
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