London CNN —Inflation in Europe slowed for the second straight month in June.
Economists polled by Reuters had expected slightly higher inflation of 5.6% this month.
However, core inflation — which strips out volatile food and energy prices — edged up.
The increase was because of a statistical anomaly, Christoph Weil, a senior economist at Commerzbank, wrote in a note.
Food prices still highFood, alcohol and tobacco prices remained the main driver of inflation, rising 11.7% in June, down from 12.5% the month before.
Persons:
That’s, Christoph Weil, Price, ” Weil, Jack Allen, Reynolds, ” Allen
Organizations:
London CNN, Reuters, Commerzbank, Capital Economics, European Central Bank
Locations:
Europe, Germany, Europe’s, European