The Eurozone consumer price index (CPI) gained 2% on a yearly basis in June, Eurostat said in a preliminary report on Tuesday. In May, annual inflation stood at 1.9%. The services inflation remains the biggest contributor, standing at 3.3%. The highest inflation rate was recorded in Estonia at 5.2% and Slovakia at 4.6%, while Cyprus had the lowest rate at 0.5%, followed by France at 0.8%.

Month-on-month, the euro area CPI rose by 0.3%. Core inflation, excluding energy, food, alcohol and tobacco, was reported at 3.1% annually, down from 3.2% previously, and 0.1% compared to May.