Inflation rises in Eurozone | Economic News

The Consumer Price Index (CPI) in the Eurozone came in at 2.6 percent on an annual basis in July, above expectations.

The European Statistical Office (Eurostat) has published preliminary inflation data for the Eurozone for July.

Accordingly, annual inflation in the Eurozone, which was 2.5 percent in June, became 2.6 percent in July. The expectation was that annual inflation would follow a horizontal course at 2.5 percent in July.

Looking at the main components of inflation, the highest annual price increase was in services at 4 percent. The services sector was followed by food, alcohol and tobacco products at 2.3 percent, energy at 1.3 percent and non-energy industrial products at 0.8 percent.

According to EU-compatible data, inflation in June was 5.5 percent in Belgium, 2.9 percent in Spain and Austria, 3.4 percent in Croatia, 3.5 percent in the Netherlands and 2.6 percent in Germany and France.