Annual inflation in the Eurozone reached 2.2% in July

Annual inflation in the Eurozone reached 2.2% in July

The European statistical office Eurostat reported an increase in inflation in the eurozone countries in July this year to 2.2% from the May level of 1.9%. Economists did not expect such a sharp increase in annual inflation. They predicted its strengthening to only 2%.

The annual growth of consumer prices, which does not reflect the dynamics of prices for food and alcohol products, this month amounted to 0.7%, down from the previous month’s figure of 0.9%. Compared to the same month of the previous year, energy carriers rose by 14.1%. The growth of their value accelerated compared to the June increase by 12.6%.

The annual increase in prices for industrial goods was 0.7%, which is lower than the June increase of 1.2%. Prices for food products, tobacco products, and alcohol showed a significant acceleration this month. In the twelve months to July, they jumped by 1.6%, while in June they increased by 0.5%. The cost of services rose by 0.9% in annual terms. A month earlier, services rose by 0.7%.

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