Inflation stagnated in the euro area in July

As expected, annual inflation stagnated in July in the euro area.

According to preliminary data released by the European Union’s Statistical Office (Eurostat) on Monday, in July, according to preliminary analysts’ expectations, consumer prices rose by 1.3 percent year on year after the same rate in June.

Prices of foodstuffs, tobacco and alcoholic beverages rose by 1.4 percent in July after the same rate of June in the euro area. Service prices grew 1.5 percent in July, while in June the annual rate was 1.6 percent. Energy prices were 2.2 percent higher than in July last year, while in June they had risen by 1.9 percent, compared to the same month of last year. (MTI)