Eurostat released its consumer price inflation data for the Eurozone on Tuesday. The preliminary consumer price inflation in the Eurozone fell to an annual rate of 0.2% in June from 0.3% in May, in line with expectations.

The decrease was driven by lower energy prices and by a softer increase in food and services prices.

The preliminary consumer price inflation excluding food, energy, alcohol, and tobacco decreased to an annual rate of 0.8% in June from 0.9% in May.

Food, alcohol and tobacco prices were up 1.2% in June, non-energy industrial goods prices gained 0.4%, and services prices climbed 1.0%, while energy prices dropped 5.1%.