Headline euro area CPI dips in June

Inflation in the euro area dipped in June amid widespread price declines outside of services.

Headline consumer price gains in the Eurozone slipped from a 1.4% year-on-year clip in May to 1.3% for June, Eurostat confirmed.

That was in-line with economists' forecasts.

In comparison to the previous month, CPI was unchanged.

Unprocessed food prices fell by 0.8% versus May, alongside a 0.9% decline in the cost of energy and a 0.4% fall in the prices of non-nergy industrial goods.

Services prices on the other hand rose by 0.6%.

'Core' consumer prices, which exclude those for energy, food, alcohol and tobacco, increased by 0.2% on the month and were 1.1% higher on the year (consensus: 1.1%) after 0.9% rise in the month before.