Euro zone inflation edged up last month to the European Central Bank's 2% target, confirming that the era of runaway prices is over and shifting policymaker focus to trade war-induced economic volatility.

Consumer prices in June were 2% higher than the same month last year, up from the 1.9% of May, lifting expectations that policymakers will leave the key interest rate unchanged later this month.

Euro-area inflation settled at the European Central Bank’s target in June, strengthening arguments to press pause on a year-long campaign of interest-rate cuts.