Eurozone, Eurostat certifies slight inflation growth in July

Brussels – It is now official: in the eurozone, inflation was at 2.6 percent in July, up slightly from June’s 2.5 percent. Eurostat confirmed its preliminary estimate and certified the reversal of the trend in the cost of living. In July, the highest contribution to the euro area’s annual inflation rate came from services (+1.82 percentage points, pp), followed by food, alcohol, and tobacco (+0.45 pp), non-energy industrial goods (+0.19 pp), and energy (+0.12 pp), the European statistics agency said.

Among the major eurozone economies, there were slight increases in inflation in Germany and France (from 2.5 to 2.6 percent and 2.5 to 2.7 percent, respectively), while rising more sharply in Italy (from 0.9 to 1.6 percent). Spain bucked the trend, with inflation slowing from 3.6 percent to 2.9 percent between June and July.