E21: Eurostat: July inflation estimate rises to 2.9 per cent
(Il Sole 24 Ore Radiocor) - In July, inflation in the eurozone rose to 2.9 per cent year-on-year from 2.8 per cent in June, according to Eurostat’s preliminary estimate. The estimated month-on-month change is 0.2%. The year-on-year figure is worse than expected, with forecasts having pointed to 2.8%, the same as the previous month.
Analysing the main components of inflation in the euro area, energy is forecast to record the highest annual rate in July (10 per cent, compared with 8.5 per cent in June), followed by services (3.3 per cent, compared with 3.2 per cent in June), food, alcohol and tobacco (1.2%, compared with 1.5% in June) and non-energy industrial goods (0.9%, compared with 0.7% in June).
Core inflation in July is estimated at 2.5 per cent year-on-year, up from 2.4 per cent in June.
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