Eurozone inflation rises to 2% in June

Up from 1.9% in May

Eurozone inflation hit 2% in June, according to a flash estimate from Eurostat, the EU's statistical office.

The latest shift in cost pressures came after in May, the inflation rate fell to 1.9%, below European Central Bank's 2% target and down from 2.2% in April. Service costs are forecast to reach the highest annual rate in June at 3.3%, up from 3.2% a month prior, followed by food, alcohol & tobacco (3.1%) and non-energy industrial goods (0.5%) this month. Disinflation drives ECB rate cut but investors warn of limited space for further trims Core inflation, which excludes food, alcohol, tobacco and energy prices, remained unchanged at 2.3% in June. The latest inflation readings came...