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Eurozone Inflation Slows As Estimated

Eurozone inflation moved close to stagnation in May, as initially estimated, to the lowest since 2016, final data from Eurostat showed on Wednesday.

Inflation slowed to 0.1 percent from 0.3 percent in April. The rate came in line with the estimate published on May 29.

This was the lowest since June 2016. In the same period last year, inflation was 1.2 percent.

Headline inflation remained well below the European Central Bank's target of "below, but close to 2 percent."

Excluding food, alcohol and tobacco, core inflation held steady at 0.9 percent in May, as initially estimated.

On a monthly basis, the harmonized index of consumer prices dropped 0.1 percent in May. The monthly rate also matched preliminary estimate.

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