Eurozone inflation slowed to 2.5% in June

In June 2024, inflation in the euro area rose by 2.5% compared to the same month in 2023. Thus, the rate slowed down compared to May, when it was 2.6%. This is evidenced by preliminary data from Eurostat.

The analysts’ consensus forecast, cited by Trading Economics, also predicted a slowdown to 2.5%.

In June, core inflation, which excludes energy and food costs, remained at the level of May at 2.9%. Energy prices increased by 0.2% after rising by 0.3% in May. Experts had expected a slowdown in core inflation to 2.8%.

In June, the member states of the bloc with the highest annual inflation rates were Belgium (5.5%) and Spain (3.5%), while the lowest rates were recorded in Finland (0.6%) and Italy (0.9%). In Germany, consumer prices rose by 2.5%, and in France – by 2.5%.

As a reminder, the seasonally adjusted GDP of the euro area and the European Union in January-March 2024 increased by 0.3% compared to the previous quarter. In the fourth quarter of 2023, the eurozone economy fell by 0.1% q/q, while the EU remained stable.

The eurozone’s economic growth in quarterly terms was the highest since the third quarter of 2022.

As GMK Center reported earlier, Fitch Ratings has raised its global GDP growth forecast for 2024 by 0.3 percentage points compared to the previous forecast to 2.4%. Expectations for the eurozone were revised to 0.6% from 0.7%.

  • Companies

Polish court confirms price of PLN 253 million for Huta Częstochowa

The court in Częstochowa rejected the Polish Ministry of Defense's (MON) complaint about the valuation…

Thursday July 3, 2025
  • Global Market

Vale lowers its pellet production target for 2025

Brazilian mining giant Vale has lowered its iron ore pellet production target for the current…

Thursday July 3, 2025
  • Companies

Zaporizhkoks reduced production to 434,000 tons in 1H2025

PJSC Zaporizhkoks, one of the largest producers of coke for steel industry in Ukraine, reduced…

Thursday July 3, 2025
  • Global Market

The EC has proposed a new climate target for 2040

On July 2, the European Commission (EC) presented amendments to the EU climate law, proposing…

Thursday July 3, 2025
  • Companies

ArcelorMittal Poland launches new RH2 rail head hardening system from Danieli

Global mining and steel company ArcelorMittal has launched a modern RH2 rail head hardening system…

Thursday July 3, 2025
  • Industry

Ukraine increased flat rolled products’ exports by 6.1% y/y in January-May

According to GMK Center calculations based on data from the State Customs Service, Ukrainian steelmakers…

Thursday July 3, 2025