Eurozone remains flat at low 0.5% in June: stats

PanARMENIAN.Net - The European Union's statistics office said the inflation rate for the 18-nation eurozone in June remained flat at a low 0.5 percent, the Associated Press reports.

Eurostat said Monday, June 30, its initial June estimate shows the core inflation rate, which excludes volatile food and fuel costs, has edged up to 0.8 percent from 0.7 percent in May.

The European Central Bank seeks an inflation rate of about 2 percent and has embarked on a raft of aggressive measures to spur inflation and boost Europe's economy.

Some economists are warning the persistently low inflation rate could lead to deflation, in which prices fall persistently and choke growth. The ECB says it's worried about the low inflation rate but doesn't expect the currency zone to slide into deflation.