In July, the Eurozone’s annual rate of inflation picked up from 1.9% to 2.2%, which was in line with prelim figures. Month-on-month, consumer prices fell by 0.1%, following a 0.3% rise in June.The core annual rate of inflation softened from 0.9% to 0.7%, which was also in line with forecasts.
According to Eurostat,
According to Eurostat,
- The lowest annual rates were registered in Malta (+0.3%), Greece (+0.7%), and Italy (+1.0%).
Estonia recorded the highest annual rate of inflation of 4.9%.
For the euro area, the largest contribution came from energy (+1.34 pp), followed by food, alcohol, & tobacco (+0.35 pp).
Services contributed 0.31 pp, with non-energy industrial goods 0.17 percentage points.
