Inflation rises in France and Spain in June

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.

The rise was linked to faster increases in prices for services - including accommodation, healthcare and transport - along with a "slight acceleration" in food prices and a smaller drop in energy costs, INSEE said.

Another measure of inflation used by the eurozone's statistics agency - the Harmonised Index of Consumer Prices (HICP) - reached 0.8 percent in June compared to 0.6 percent in May.

In Spain, inflation as measured by the HICP reached 2.2 percent in June, up from 1.6 percent in May, due to rising fuel and food prices, official data showed.

The ECB cut interest rates for a seventh consecutive time earlier this month because inflation has stabilised in the eurozone, reaching 1.9 percent in May - just under its two-percent target.

After the meeting, ECB President Christine Lagarde declined to comment directly about whether the central bank would pause its cuts at its next meeting in July, as some expect.

But she stressed repeatedly that the ECB was in a "good place", fuelling expectations it might soon hit pause.