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Eurozone Inflation Turns Slightly Positive
Inflation in the eurozone rose 0.1% in June from a negative 0.1% in May, according to Eurostat. The region’s statistical service says the turnaround was driven primarily by rising oil prices.
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Inflation in the eurozone rose 0.1% in June from a negative 0.1% in May, according to Eurostat. The region’s statistical service says the turnaround was driven primarily by rising oil prices.
The 17-nation eurozone’s economy expanded by 0.6% in January-March. But that, along with June’s growth, is well below the 2% increase regarded by the European Central Bank as necessary for a strong economy.
The ECB has been trying to stimulate economic growth by cutting its prime lending rate to zero and injecting €1.7 trillion ($1.9 trillion) into the region’s banking system.
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