Eurozone with an inflation

Inflation in the eurozone has appeared. According to the latest data, inflation in euro countries, for the first time in more than a year, is above the ECB's target. At the same time, the main consumer price index is still growing at a slow pace.
Inflation in the euro area amounted to 2% yoy, against a background of 1.9% last month. Without taking into account volatile food and fuel prices, inflation in the euro area is 1%. This is a slowdown in last month growth, when the rise in the core CPI was 1.1%.
High oil prices are expected to continue to exert upward pressure on growth in euro area goods and services prices.
At the same time, the key consumer price index is expected to grow at an accelerated pace in the second half of the year.
Against the background of widespread wage increases in the euro area, investors and analysts do not expect any major surprises in the upward direction.
The euro initially rose against the dollar after data, adding 0.1% to its value to 1.1656 dollars. Subsequently, however, the single currency returned some of the earned, returning to levels below 1.1650.