Eurozone inflation up to 2.2% in July

The annual inflation rate in the Eurozone (EA19) stood at 2.2% in July, up 0.3 percentage points compared to June, according to Eurostat’s preliminary report published on Friday.

Energy is estimated to reach an annual inflation rate of 14.1%, making the highest contribution to the total inflation rate in the euro area. The food, alcohol and tobacco inflation rate is expected to stand at 1.6% and the services inflation rate is projected to hit 0.9%. The non-energy industrial goods inflation rate will come in at 0.7%, the report noted.

Among the Eurozone countries, the highest projected annual inflation rate of 4.9% in July is expected in Estonia, and the lowest in Malta, where it is projected to land at 0.4%.



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