BREAKING NEWS

BREAKING NEWS

Fuel prices boost July euro zone inflation

Now Reading:

Fuel prices boost July euro zone inflation

Text size Aa Aa

As expected, euro zone inflation was up in July compared with the same month last year: it rose 1.7 percent.

The two main factors were fuel for transport was more expensive while the price of clothes fell.

Consumer prices in the 16 countries using the euro was down 0.3 percent month-on-month.

The annual figure was the same as the earlier estimate from the EU’s statistics office, Eurostat.

Energy prices were flat month-on-month but 8.1 percent higher year-on-year.

Prices of clothes were 9.7 percent lower against June and only 0.7 percent higher than a year earlier.

Without volatile energy and unprocessed food prices – the measure the European Central Bank calls core inflation – the monthly decline in prices was 0.5 percent, and the annual rise was one percent.