By William L. Watts
LONDON (MarketWatch) -- Consumer prices rose 2.7% in June compared to the same month last year, the European Union statistics agency Eursostat said Thursday in a preliminary estimate. The rate was unchanged from the 2.7% pace seen in May. Economists surveyed by Dow Jones Newswires had forecast annual CPI to tick up to 2.8% in June. The rate remains above the European Central Bank's target of near but just below 2%. The ECB is widely expected to hike its key lending rate when its Governing Council meets next week.
