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Eurozone inflation rises in line with expectations

Staff Writer |
Eurozone inflation rose in line with expectations in June at an annualised 0.1%, compared to a 0.1% drop in May, Eurostat confirmed in its final estimate.

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Low fuel and gas prices continued to provide a drag on inflation, offsetting increased prices at restaurants, cafes, rents and tobacco.

Belgium registered the highest annual rate of inflation at 1.8% followed by Sweden at 1.2% while Cyprus and Bulgaria were at the other end of the scale with deflation of 1.9% and 1.2%, respectively.

The European Central Bank is targeting inflation of just below 2% and is under pressure to address a prolonged period of low consumer prices.

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