RTTNews - Euro area annual inflation turned negative for the first time on record in June, the Eurostat confirmed Wednesday.
Final report from the statistical office showed that the consumer price index or CPI dropped 0.1% year-on-year in June after remaining flat in May. A year earlier, inflation was 4%. On a monthly basis, consumer prices rose 0.2% in June.
Core annual inflation, which excludes energy, food, alcohol and tobacco prices, eased to 1.4% in June from 1.5% in May.
EU annual inflation was 0.6% in June, down from 0.8% in May and 4.3% in the previous year. Month-on-month, prices grew 0.2%.
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