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Euro zone inflation still above ECB target

Euro zone - Seventh consecutive month above ECB target
Euro zone - Seventh consecutive month above ECB target

Euro zone inflation hit 2.7% for the second month in a row in June as it remained well above the target set by the European Central Bank, new official EU data has shown.

Inflation had eased slightly in May to 2.7% after reaching a 30-month peak of 2.8% in April.

Inflation in the 17-nation single currency area has now exceeded the ECB's 2.0% target for seven consecutive months.

The central bank raised its benchmark lending rate to 1.25% in April and signalled that it may raise it again in July.