Inflation in the euro zone fell markedly in June, with consumer prices rising month-on-month by 5.5 per cent as compared with 6.1 per cent in May. The figure was released by the Eurostat statistical office in Luxembourg on Friday.

According to lastest data released by the Eurostat statistical office in Luxembourg, inflation in the Eurozone declined noticeably with 5.5% month-on-month as compared to 6.1% in May.

This marks the lowest rate since the beginning of 2022. Experts forecasted a reduction to 5.6% after the inflation had reached double digits caused by the Ukraine war.

Spain has again recorded very small inflation rate. According to the Harmonised Index of Consumer Prices (HICP) which is used for consumer prices in the EU, prices only increased by 1.6% compared to June last year. This rate fell from 2.9% compared to previous month. Prices for petrol and diesel fell in the first place, but also lower prices for food and electricity contributed to the inflation decrease.

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