Eurostat: Eurozone inflation rose to 2.9 per cent in July, driven by energy prices and the situation in Iran
In June, the figure stood at 2.6 per cent year-on-year
Eurostat confirms that annual inflation in the eurozone rose to 2.9 per cent last month, as indicated in the flash estimate of 31 July. In June, inflation in the euro area stood at 2.8 per cent. Across the European Union, inflation rose to 3 per cent, up from 2.9 per cent in June.
The lowest annual rates were recorded in Sweden (0.3 per cent), the Czech Republic (1.3 per cent), Denmark and Hungary (both 1.6 per cent). The highest annual rates were recorded in Romania (8.2 per cent), Lithuania (5.4 per cent), Cyprus and Bulgaria (both 4.4 per cent). In Italia, inflation in July stood at 2.9 per cent, down from 3 per cent in June.
In the UK, the Consumer Price Index rose by 0.3 per cent month-on-month and 2.9 per cent year-on-year in July, driven mainly by rising energy prices linked to the ongoing conflict with Iran. In June, the figure stood at 2.6 per cent year-on-year. Core inflation remained unchanged at 2.6 per cent compared with the same month a year ago. This was announced by the Office for National Statistics.
