It has been confirmed that the eurozone returned to inflation during June, after four months of stable or falling prices.

Eurozone prices rose 0.1% year-on-year according to Eurostat - while the monthly increase was 0.2%.

This is still a million miles away from the European Central Bank's (ECB) target rate of 2% and comes as Italy remains on the verge of a banking crisis.

The ECB's Governing Council meets on Thursday, it will decide if further stimulation is needed as the bank continues to pump €80bn per month into the euro-economy through quantitative easing.

The central bank has promised to do whatever is necessary to spark the eurozone back to life - the uncertainty created by the UK's decision to leave the EU is unlikely to help that mission.

Ireland was on the average with 0.1% price increase, inflation was highest in Belgium at 1.8% - and lowest in Cyprus, where prices fell by 2%.

Energy prices fell by 6.4% year-on-year - down from a 8.1% in May - despite the fact that there was a 1.7% increase in energy prices between the two months.

Meanwhile services, the largest component of the index, were 1.1% more expensive.