This figure met economists’ expectations and signals that monetary policy efforts across Europe may finally be achieving their intended impact of taming inflation.

Services Inflation on the Rise

Among the key drivers, services inflation stood out in June. This category rose to 3.3%, up from 3.2% in May, although still below April’s 4% level. This uptick is especially relevant as services are a core component closely monitored by the ECB.

Core Inflation Holds Steady

Core inflation—which strips out volatile categories like energy, food, alcohol, and tobacco—remained flat at 2.3% in June. The stable figure reflects broader price pressures beginning to stabilize across the euro area.

Diverging Trends in Major Eurozone Economies

Inflation data from key euro area economies showed mixed signals. Germany saw a slight easing in harmonized inflation, France and Spain experienced modest increases, while Italy remained unchanged. Collectively, these variations helped push the overall euro area figure toward the ECB’s 2% benchmark.

A Cautious Outlook on Rates

Given the current inflation environment, analysts increasingly expect the ECB to hold interest rates steady at its next meeting on July 25. However, a potential 25 basis-point cut is still on the table for September.

ECB Chief Economist Philip Lane reinforced this outlook, stating:
“The cycle of bringing inflation down from 10% to 2% is done. But going forward, we must remain alert to ensure any deviation doesn’t affect the medium-term outlook.”
His comments reflect a continued data-dependent approach to monetary policy.

Risks Remain on the Horizon

Despite meeting the inflation target, economists warn of lingering risks that could derail the disinflation process. These include persistent services inflation, volatility in oil prices driven by geopolitical tensions in the Middle East, and potential U.S. trade tariffs.

Inflation Breakdown for June 2025

According to the Eurostat flash estimate, here’s how the components of inflation fared in June:

• Services: 3.3% (May: 3.2%)

• Food, alcohol & tobacco: 3.1% (May: 3.2%)

• Non-energy industrial goods: 0.5% (May: 0.6%)

• Energy: -2.7% (May: -3.6%)

When Will Final Data Be Released?

Eurostat is set to publish the full inflation dataset for June on July 17, 2025. This release will be closely watched by policymakers and markets alike as the ECB prepares its next move.

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APS Invests $3.4M in MetaWealth’s Tokenized Bonds

Pan-European asset manager APS, which controls over €12 billion ($13.7 billion), has become the first institutional investor to directly purchase tokenized real estate assets via MetaWealth. The company acquired €3 million ($3.4 million) in tokenized bonds tied to two residential projects in Italy — Fo.Ro Living Rome and Porta Pamphili Rome.

You Might Be Interested In: Elon Musk Talks About the Name of a New Memecoin!

Each tranche was worth €1.5 million and offered on the same terms as those available to retail investors. All transactions were recorded on blockchain, ensuring full transparency and security.

“Tokenisation is a transformative shift in investment, increasing liquidity and simplifying transactions while maintaining compliance,” said Mihai Pop, manager at APS.

MetaWealth Expands Its Real Estate Token Empire

Founded in 2023, MetaWealth enables fractional ownership of Pan-European properties. The platform has already processed over $50 million in tokenized real estate transactions across Romania, Spain, Greece, and Italy.

CEO Amr Adawi commented, “This investment builds trust in the sector, adds liquidity to the ecosystem, and expands access to real-world assets for institutions and individuals alike.” MetaWealth now ranks among the world’s top 10 RWA tokenization platforms, with users from 23 countries.

Tokenization Goes Mainstream

Interest in RWA tokenization has soared recently. On April 30, BlackRock filed to introduce a blockchain-based share class for its $150 billion Treasury Trust Fund. That same day, Libre announced plans to tokenize $500 million in Telegram debt.

On May 1, MultiBank Group secured a $3 billion tokenization deal with UAE-based MAG and Mavryk, further confirming that tokenization is not just a trend — it’s the future of finance.

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Italian green energy company Enel Group has partnered with crypto wallet provider Conio to offer fractional ownership of solar panels through tokenization on the Algorand blockchain.

On January 21, Marc Vanlerberghe, the chief marketing officer of the Algorand Foundation, announced a partnership between Conio and Enel Group to launch a solar panel tokenization product in Italy.

The tokenized product will allow Italians to own a portion of Enel‘s solar farms and use the generated power to offset electricity usage in residential properties.

Related tweet:

Warden explained the real-world use case of the product:

“You can live in a high-rise and offset with partial ownership of a solar panel in a field someplace else. So cool! There is just no end to the power of tokenized markets.”

Tokenization of Emirati Assets

Amid the ongoing blockchain revolution, United Arab Emirates-based property development group Damac Group has signed a $1 billion agreement with Mantra, a blockchain built for tokenized RWAs (real-world assets), to enable token-based finance.

The partnership will allow Damac to leverage Mantra’s RWA-focused blockchain technology to tokenize its diverse portfolio, which includes real estate, hotels, resorts, manufacturing, capital markets, and fashion. The multibillion-dollar investment conglomerate’s partnership with Mantra will further the blockchain’s goal to become “the preferred ledger of record” for RWAs.

According to a CNBC report, US President Donald Trump recently announced that Emirati billionaire Hussain Sajwani, founder of Damac, has pledged at least $20 billion in foreign investment to build new data centers across the United States.

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European Central Bank Study

Intesa Sanpaolo said in a July 18 statement that the transaction was part of a study run by the European Central Bank to find fresh ideas for central bank money settlement of wholesale transactions executed on blockchains.

Since Italy adopted its FinTech decree law, which controls the issuing and distribution of financial instruments in digital form, this was the first transaction of its type.

With a fixed rate of 3.63% computed yearly, Cassa Depositi’s $27.2 million (25 million euro) bond will mature over four months, ending on November 18, 2024. The lone institutional investor in the trial was Intesa Sanpaolo.

The same day, the cash flow was cleared using the “TIPS Hash Link” program from the Bank of Italy, which enables blockchain and conventional payment system compatibility.

Future Impact of Blockchain

“This transaction shows how public blockchains are a powerful technology for financial institutions, making transactions faster and safer,” Niccolò Bardoscia, head of digital assets trading and investments at Intesa Sanpaolo, said in a July 18 LinkedIn post.

“This technical change will affect not only bonds but every asset class over the coming years.”

BlackRock’s CEO, Larry Fink, has also supported tokenization since he thinks every stock and bond will eventually travel on blockchain rails.

Professor Hilary Allen of financial law warned the US Congress last month that public blockchains are too “fragile” to tokenize trillions of real-world assets since they are very efficient and cannot manage significant transaction volumes.

While fellow consulting company McKinsey projected a more meager $2 trillion during the same period, Boston Consulting Group projects the tokenized asset market may reach $16 trillion by 2030.

Data aggregated by 21Shares on Dune Analytics shows over $89 billion of tokenized assets on blockchain rails. Polygon ranks fourth among blockchains by tokenized value at $40.3 million, trailing only Ethereum, Stellar, and Mantle.

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