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

Metinvest ranked among Ukraine’s top 10 employers according to Delo.ua

Metinvest Group ranked eighth in the rating of the 100 best employers in Ukraine according…

Wednesday July 9, 2025
  • Global Market

Europe needs effective protective measures for steel in light of US tariffs – EUROFER

Europe needs highly effective protective measures for steel in light of US tariffs. This appeal…

Wednesday July 9, 2025
  • Global Market

The European Commission has extended anti-dumping duties on steel fittings from Asia and Russia

The European Commission (EC) has decided to definitively extend anti-dumping duties on imports of certain…

Wednesday July 9, 2025
  • Companies

Liberty Galați has been given another 30 days to avoid bankruptcy

The situation at Romania's largest steel plant, Liberty Galați, remains critically tense. On July 7,…

Wednesday July 9, 2025
  • Companies

India’s JIL receives approval for $420.2 million steel plant project

Pipe and cold-rolled steel producer Jindal (India) Limited (JIL) has received approval from the Odisha…

Wednesday July 9, 2025
  • Companies

Poland’s JSW launches a new longwall at the Pniówek mine with reserves of 840,000 tons

Jastrzębska Spółka Węglowa (JSW), Europe's largest coking coal producer, continues to actively rebuild production fronts…

Wednesday July 9, 2025