Inflation stays stable in EU and eurozone during July
Eurozone and European Union annual inflation remained stable during July at 2.4 per cent and 2.5 per cent, respectively.
According to the EU’s statistical office Eurostat, low rates were reported in Sweden with 0.7 per cent, 0.9 per cent in Greece and 1.9 per cent in Germany and Latvia.
The highest rates were observed in Hungary, which had inflation of 5.7 per cent, 4.2 per cent in Malta and Estonia’s 4.1 per cent.
The main components of high annual rates in the eurozone was alcohol & tobacco, contributing 4.7 per cent to the 2.4 per cent figure. Housing and transport also scored highly with 3.8 per cent and 3.2 per cent, respectively.
The lowest annual rates were seen in the communications sector, with a deflationary -3.1 per cent rate, and low rates of 0.7 per cent in education and 1 per cent in recreation & culture.
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