The eurozone's largest economy, Germany, recorded a 2.0% annual inflation rate in June, a slight decline from 2.1% in May. This stabilized inflation is seen positively by analysts, indicating a return to the European Central Bank's medium-term target of 2%. While inflation rose in other eurozone countries, Germany’s rates remain higher. ECB President Christine Lagarde noted the central bank's current advantageous position, hinting at a potential pause in interest rate cuts after previously reducing rates multiple times in response to past inflation highs.
Analysts surveyed by financial data firm FactSet had expected an increase to 2.2 percent in June.
The figures add to the evidence that inflation in the eurozone has sustainably returned to the target.
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