“Looking at the main components of euro area inflation, energy is expected to have the highest annual rate in June (41.9%, compared with 39.1% in May), followed by food, alcohol and tobacco (8.9%, compared with 7.5% in May), non-energy industrial goods (4.3%, compared with 4.2% in May) and services (3.4%, compared with 3.5% in May),” the statistical office of the European Union said.

Inflation is now at its highest level since 1997 when recordkeeping for the euro began. (ILKHA)