The buildings of the banking district are seen along the river Main in Frankfurt, Germany, late Thursday, June 27, 2019. (AP Photo/Michael Probst)

Inflation remains weak in eurozone as ECB mulls stimulus

June 28, 2019 - 2:00 am

FRANKFURT, Germany (AP) — Annual inflation in the 19 countries that use the euro remained stuck at 1.2% in June, well below their central bank's goal despite years of stimulus policies.

The official figure released Friday by the EU statistics agency matched the May reading and came in short of the European Central Bank's target of just under 2% considered best for the economy.

The figure for core inflation, which excludes volatile fuel and food prices, rose more than some expected, however, climbing to 1.1% from 0.8% in May. Core inflation is considered to give a truer picture of trends in consumer prices.

ECB President Mario Draghi said last week that unless inflation improves, more stimulus such as interest rate cuts or bond purchases will be needed.