Inflation rate in the Eurozone: Consumer prices reach 2 percent

Services inflation, one of the most recent strongest drivers of inflation, was 3.3 percent in June, down from 3.2 percent in May. Energy prices, however, fell by 2.7 percent, down from 3.6 percent in May. Non-energy industrial goods rose by 0.5 percent. Prices for food, alcohol, and tobacco rose by 3.1 percent in June. Core inflation, which excludes the volatile prices of energy, food, alcohol, and tobacco, remained at 2.3 percent. The ECB monitors this measure particularly closely because it provides a good indicator of underlying inflation trends.