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Eurozone Inflation Drops to 2.8% as ECB Raises Rates

7/3/2026

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Story summary
  • Belgium said eurozone inflation fell to 2.8% in June, down from 3.2% in May.
  • Energy inflation dropped to 8.7% from 10.8% while food, services and core inflation were 1.6%, 3.2% and 2.4%.
  • CPI was lowest in Malta (1.9%) and highest in Lithuania (5.5%).
  • The European Central Bank raised its key rate by 25 basis points to 2.25% and expects inflation to average 3% in 2026, 2.3% in 2027 and 2% in 2028.