Sainsbury’s boss says rate cuts needed to spur consumer spending; eurozone inflation dips to 2.5% – as it happened

Simon Roberts says consumer caution not surprising given everything households have been through in the cost of living crisis'

Services is estimated to have the highest annual rate in the eurozone in June, of 4.1% - stable compared with May.

This is followed by food, alcohol & tobacco at an annual rate of 2.5%, down from 2.6% in May; industrial goods at 0.7%, stable compared with May; and energy at 0.2%, down from May's 0.3% rate.