Eurozone: Annual inflation at 8.9% in July, Greece at 11.3%

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Eurozone annual inflation climbed to a new record of 8.9% in July, from 8.6% in June and 2.2% a year earlier, according to data released today by Eurostat.

In the E.U. annual inflation stood at 9.8% in July from 9.6% in June and 2.5% a year earlier, the European statistics agency said.

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Eurostat data showed a slight deceleration in inflation in Greece, with the annual rate falling to 11.3% in July from 11.6% in June.

Eurozone: Annual inflation at 8.9% in July, Greece at 11.3%
Source: Eurostat

The lowest annual readings were recorded in France and Malta (6.8%) and Finland (8.0%), while the highest in Estonia (23.2%), Latvia (21.3%) and Lithuania (20.9%). ).

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Compared to June, annual inflation fell in six Member States, remained stable in three and rose in 18.

The energy sector was again the key factor in the price rally. According to Eurostat data, the largest contribution to the annual index came from energy (+4.02 percentage points), followed by food, alcohol and tobacco (+2.08), services (+1.60) and non-energy manufactured goods (+1.16).

On a monthly basis, Eurostat data showed a small increase of 0.1% and 0.2% in the Eurozone and the EU. respectively, with Greece showing the largest decrease in the Eurozone, at -1.6%. They are followed by Luxembourg with -1.3% and Italy with -1.1%.

Source: Capital

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