Inflation in the eurozone slowed in June due to a milder rise in food prices, while price growth in Croatia was above average, as it was in the Netherlands, according to Eurostat data.

In June, the annual inflation rate in the eurozone, measured by the Harmonised Index of Consumer Prices (HICP), was 2.5%.

In May, the rise in prices accelerated slightly for the first time since the end of last year, reaching 2.6%, which was due to a stronger increase in prices for services and food. As in the previous month, services also recorded the highest price increase in June at 4.1%. The rise in prices for fresh food slowed from 1.8% to 1.4%.

Strongest price increase in Belgium

Energy prices were once again almost stable in June with an estimated growth rate of 0.2%. In May, it had been 0.3%.

Excluding energy and fresh food, the annual inflation rate in the eurozone was 2.8% in June, 0.1 percentage points lower than in May.

On a monthly basis, prices in the eurozone rose by 0.2% in June, the same rate as in May. Excluding energy and food, prices rose by 0.4%.

Belgium recorded the strongest price increase in June 2024 compared to June 2023 at 5.5%, significantly higher than in May. Spain followed with a consumer price increase of 3.5% in June.

Lowest annual price increases in Finland and Lithuania

Close behind were Croatia and the Netherlands, where consumer prices measured by the HICP were 3.4% higher in June 2024 than in June 2023. In May, the annual inflation rate measured by the HICP in Croatia was 4.3%.

The monthly comparison shows that the price increases in Croatia, measured by the HICP, accelerated by 0.8 in June. In May, growth was still at 0.2%.

The lowest annual price increases in June, measured by the HICP, were recorded in Finland and Lithuania at 0.6% and 1% respectively.

The Consumer Price Index of the Croatian Bureau of Statistics shows that prices in Croatia were 2.4% higher in June 2024 than in June 2023. The monthly comparison shows the same price level in June as in May.