Euro zone inflation slowed down in July

By: Trademagazin Date: 2023. 08. 18. 15:32

In July, inflation slowed down in the euro zone, according to the final data of Eurostat, the statistical office of the European Union, presented on Friday.

In an annual comparison, the consumer price index fell to 5.3 percent, the lowest since January 2022, from 5.5 percent in June. In July last year, inflation in the region was 8.9 percent.

Inflation is still fueled by the rise in food prices, but to a lesser extent, while the fall in energy prices moderates it. Excluding energy prices, consumer prices rose by 6.7 percent in July after the 6.9 percent annual increase in June. Excluding energy, food and leisure items, the July price increase (core inflation) was 5.5 percent, which was the same as in June.

In July, energy prices were 6.1 percent lower than a year earlier and 0.2 percent lower than the previous month. In June, the annual decrease was 5.6 percent.