Eurozone inflation fell in June to a 15-month low as energy prices fell.
The inflation rate fell to 5.5% from the 6.1% level recorded in May, according to data from the European statistics office Eurostat.
The data also revealed a decline in food prices to 11.7% in June compared to 12.5% in May, according to Eurostat.
Inflation remains well above the ECB's target of 2%, while analysts expect interest rates to continue to rise.
High inflation prompted the bank to raise interest rates several times to curb inflation.
The euro area witnessed a record wave of inflation during the past year due to the repercussions of Russia's war on Ukraine and the rise in energy and food prices globally, after the inflation rate was at 2% two years ago due to the economic recession left by the Corona pandemic, it rose at the beginning of last year to reach more than 10% last October.
But after a series of rate hikes by the ECB, inflation has gradually fallen this year.
Uneven data
- The annual inflation rate in Germany (Europe's largest economy) rose to 6.4% in June from 6.1% the previous month.
- Spain slowed its annual inflation rate to 1.9% in June thanks to lower fuel, electricity and food prices.
- Italy's inflation rate was 6.7%.
- Luxembourg recorded the lowest inflation rate of 1% in June.
According to other Eurostat data published on Friday, the unemployment rate in the euro area remained stable in May at 6.5%.