2 July 2024 at 11:00 Price growth in the euro countries moderates Price growth in the countries that use the euro was 2.5 per cent in June, compared with June last year. This is shown by figures from the EU’s statistics agency Eurostat. In May this year, the price increase was 2.7 per cent, compared with the same month last year. Like Norges Bank, the European Central Bank (ESB) also steers towards a target of an annual price increase of approximately 2 per cent. Price inflation in Europe has moderated. That is why the ECB lowered the key interest rate from 4 to 3.75 per cent in June. It was the first time the central bank lowered the interest rate since 2019.
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