Inflation across the euro zone was 0.5% in June, according to Eurostat, holding steady on the low figure recorded in the previous month.

The figure across the European Union as a whole was 0.7% - up slightly from May – however in both cases the rate was over 1% lower than a year ago.

Britain had the highest rate of annual inflation in June at 1.9%, followed closely by Austria at 1.7%.

Bulgaria, however, recorded deflation of 1.8%, with the Greek figure standing at -1.5%.

Ireland, meanwhile, was on par with the euro zone average of 0.5% during June.

Inflation across specific products and services remained largely static during the month, with tobacco and restaurants and cafés seeing slight rises and vegetable, fruit and telecoms prices seeing a small decline.