In Britain, inflation is still running higher than the euro area.
Inflation in the euro area slowed down slightly in June. In June, prices rose by 5.5 percent compared to a year ago, Eurostat says. In May, inflation was 6.1 percent.
According to the news agency Bloomberg, inflation of 5.5 percent is the lowest since February 2021, when Russia started a war of aggression in Ukraine.
At their highest, the inflation figures in the euro area have fallen by almost 11 percent since the start of the war last October.
Britain also saw a turn for the better last month. In Britain, inflation fell below eight percent for the first time in a year, Bloomberg reports. In June, inflation in Britain was 7.9 percent, while it was still close to nine percent in May.
– Food price inflation eased a little in June, but it is still at high levels, the chief economist of the British National Statistics Office (ONS) Grant Fitzner said according to AFP.
For more than a year, Britain has been tormented by both the rise in the cost of living caused by inflation and the energy crisis, because most houses in Britain are heated with gas.
Despite the decrease, inflation in Britain is still the highest among the G7 countries. The G7 countries are the United States, Canada, France, Germany, Italy, Great Britain and Japan.
British Prime Minister Rishi Sunak has set a goal of reducing inflation to five percent by the end of this year.