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

The rate of increase in consumer prices in the euro area slowed to one percent in July.

The European Union Bureau of Statistics (Eurostat) announced on Monday that consumer prices increased by 1 percent year-on-year in July. The rate was 1.3 percent in June and 2.2 percent last July.

Excluding frequently volatile energy prices, consumer prices increased by 1.1 percent, excluding energy and unprocessed food prices. (MTI)