Euro Area: Harmonized inflation increases in July

Euro Area Inflation July 2024

Euro Area: Harmonized inflation increases in July

Harmonized inflation came in at 2.6% in July, up from June’s 2.5%. July’s result was above market expectations. The figure was largely driven by a sharper increase in energy prices. That said, price pressures for services and for food, alcohol and tobacco softened.

The trend pointed down mildly, with annual average harmonized inflation coming in at 3.0% in July (June: 3.2%). Meanwhile, core inflation was unchanged, coming in at June’s 2.9% in July.

Finally, harmonized consumer prices fell 0.02% in July over the previous month, contrasting the 0.21% rise recorded in June.

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