The rate of increase in consumer prices in the euro area slowed down in July

Consumer price growth in the euro area slowed to a seventeen-month low in July.

According to the preliminary data released by the European Union Bureau of Statistics (Eurostat) on Wednesday, consumer prices increased by 1.1 percent year-on-year in July, the lowest since February last year. The rate rose to 1.3 percent in June and 2.2 percent in July last year. (MTI)