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Eurozone inflation fell more than expected to 5.5 per cent in June, its lowest rate since the start of last year, but any relief for policymakers was tempered by a slight rebound in core consumer price growth, excluding energy and food.
The EU’s statistical office said annual inflation in the single currency zone was down from 6.1 per cent in May. It was also below the 5.6 per cent forecast by economists in a poll by Reuters.
But core inflation for June was 5.4 per cent, up from 5.3 per cent in May. This was a setback for the European Central Bank, which has said it will keep raising rates until underlying price pressures are clearly falling towards its 2 per cent target.
This is a developing story.
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