European Central Bank President Christine Lagarde remarked that the ECB is 'in a good place' as inflation rates in France and Spain rose in June. Data showed consumer prices in France increased by 0.9% from the previous year, a rise attributed to higher service costs and food prices. Similarly, Spain's inflation reached 2.2% in June. Despite recent interest rate cuts, Lagarde did not clarify if the ECB would pause these cuts in July, but her comments suggest a positive outlook for the bank's standing amid stabilizing inflation rates.
"Consumer prices rose by 0.9 percent in France in June compared to the same month last year, up from 0.7 percent in May, according to the INSEE statistics agency."
"Inflation edged up in France and Spain in June, adding to speculation that the ECB may pause its interest rate-cut cycle."
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