Inflation eased in two of the euro zone's largest economies in June, according to provisional country data released on Friday.
Spanish National Institute of Statistics He said consumer price inflation in June was 3.4% year-on-year, down from a one-year high of 3.6% in May, but slightly higher than expected, as most analysts had expected 3.3%.
The fall was mainly due to lower food and fuel prices, offsetting higher costs of leisure and cultural services as Spain entered its main summer tourist season.
The core rate, which excludes variables such as energy and food, remained unchanged at 3%, while the High Index of Consumer Prices (HICP) fell to 3.5% from 3.8%.
All European Union countries use the same methodology to calculate the HICP.
Meanwhile, in France, the inflation rate is National Institute of Statistics and Economic Research GDP growth in June was 2.1%, down from 2.3% in May. The HICP fell to 2.5% from 2.6%.
As in Spain, the decline was largely in line with expectations, driven by falling food and energy prices.
But in Italy, the consumer price index remained unchanged at 0.8%, beating analysts' expectations of a small increase to 1%. The HICP rose to 0.9% from 0.8% in May, and Italy's National Institute of Statistics Estimated.
Leo Barincow, Senior Economist Oxford Economics“While recent economic data and surveys indicate a slow economic recovery, [in Europe]On the price side, the trends are more favorable.
“Today's inflation data will help bolster the ECB's dovish stance and provide some relief following data showing a notable rise in labour costs in the first quarter.”
