Jun 30, 7:47 AM EDT

Eurozone inflation back above zero in June, but still low


Latest Business News
What is Mondelez? A look at the brands the cookie maker owns

Markets Right Now: US stocks post solid gains at midday

Hershey stock soars after report of Mondelez takeover bid

Average US 30-year mortgage falls to 3.48 percent

US stock indexes move higher in morning trading

Latest News
Italian bank UniCredit taps Mustier as CEO to boost profits

EU opens probe of global beer giant AB InBev

Eurozone inflation back above zero in June, but still low

German jobless rate edges below 6 percent in June

Multimedia
A district summary of the Beige Book
Measuring economic stress by county nationwide
Mall malaise: shoppers browse, but don't buy
Unemployment by the numbers
Family struggles with father's unemployment
Saying an affordable goodbye
Hard times hit small car dealer
Latest Economic News
UK stock index above pre-vote level: Crisis over? Not likely

Eurozone inflation back above zero in June, but still low

German jobless rate edges below 6 percent in June

US economy grew at slightly faster 1.1 percent in Q1

Spain's economy grew estimated 0.7 pct in second quarter

South Korea cuts outlook, plans stimulus package

How Clinton's and Trump's economic prescriptions clash

Why Brexit endangers global unions that helped West prosper

British bracing for world economy to punish UK for 'Brexit'

Behind the support for Brexit and Trump: Economic resentment

Interactives
Greece's Debt Threatens to Spread
State budget
gaps map
Auto industry problems trickle down, punish Tennessee county
Women give old Derby hats a makeover in tough economy
S.C. town deals with highest unemployment in South
How mortgages were bundled and sold as securities
Tracking the $700 billion financial bailout
Tracking the year's job losses
State-by-state foreclosures since 2007
Credit crisis explained
Presidents and their economic legacies
Lexicon of the financial crisis
Americans' addiction to debt

FRANKFURT, Germany (AP) -- The annual rate of inflation in the 19 countries that use the euro rose to 0.1 percent in June from below zero, but is still far short of official targets.

The Eurostat statistical agency said Thursday that a recent pick-up in oil prices helped push the reading up from minus 0.1 percent in May.

The European Central Bank remains far from achieving its goal of inflation just under 2 percent, considered consistent with a strong economy. The bank has cut its benchmark interest rate to zero and is pumping 1.74 trillion euros ($1.94 trillion) of newly created money into the banking system, steps that should increase inflation.

The eurozone economy grew 0.6 percent in the first quarter but remains burdened by high unemployment and debt in some countries.

© 2016 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Learn more about our Privacy Policy and Terms of Use.