Financial News: Eurozone Inflation Rises Slightly To 2.6%

Eurozone Inflation Rises Slightly To 2.6%

07/31/2024 - 05:47:00 (RTTNews)

(RTTNews) - Eurozone inflation rose slightly in July, while core inflation remained stable, flash data from Eurostat showed on Wednesday.

The harmonized index of consumer prices advanced 2.6 percent year-on-year in July, faster than the 2.5 percent increase in June. The index was forecast to climb 2.5 percent again in July.

Core inflation that strips out prices of energy, food, alcohol and tobacco, held steady at 2.9 percent. Economists had forecast the core rate to slow to 2.8 percent. On a monthly basis, consumer prices remained flat in July.

All components of the HICP increased from the previous year. Services cost increased the most in July, up by 4.0 percent. This was followed by the 2.3 percent increase in food, alcohol and tobacco prices and 1.3 percent rise in energy prices. Non-energy industrial goods prices moved up only 0.8 percent.

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