Euro-Area Inflation Steady at 0.5% Shows Draghi Challenge

The euro-area inflation rate held steady in June at less than half the European Central Bank’s target, underscoring the challenge faced by Mario Draghi as he tries to stoke prices and ignite growth.

Consumer prices grew 0.5 percent in the year, equaling May’s increase, the European Union’s statistics office in Luxembourg said today. That matched the median forecast in a Bloomberg News survey of 35 economists. Core inflation unexpectedly accelerated.