Economic Briefing/Economic Insights
To-the-point economic analysis by Commerzbank's research team
© Commerzbank
17 July 2025
€ inflation details – The core rate settles above the ECB target
In June, inflation in the euro area excluding energy, food, and beverages remained above the ECB's target on a month-on-month basis. In the spring, various one-off effects had significantly distorted the core rate. Excluding these special effects, the core rate has been moving sideways for a year. This is evident from Eurostat's final figures for consumer prices in June, published today, and from our calculations.
