LUXEMBOURG ( AP) – The annual inflation in the euro area has accelerated slightly in July as expected . Consumer prices were up 1.7% year on year , as Eurostat announced on Monday and that the preliminary estimate of 30 confirmed in June . In June, the inflation rate was still at 1.4 %. ( Reuters photo 🙂
Compared to the previous month, consumer prices in July fell by 0.3 %. Economists polled by Dow Jones Newswires had forecast the annual rate exactly as expected on a monthly term, however, a decrease of 0.4 %.
The annual inflation is almost back to within the price stability norm of the European Central Bank ( ECB ) of " below but close to 2 %. " Economists assume, however , that the price pressures subside in the coming months is expected . The increase in inflation in July was due in part to a base effect in energy prices .
Excluding energy and unprocessed food , the annual inflation in the euro area amounted to 1.0 % to plus 0.9% in June. Compared to the previous month showed here a change of minus 0.4%. In the calculation without energy and without food , alcohol and tobacco also presented the annual inflation to 1.0 % (June: to plus 0.9%), in a single month , the prices decreased in this division but by 0.5 %.
was decisively influenced the euro area inflation in July by the development of fuel prices, which became more expensive of the year was 12.7% , and of the price increases for heating oil ( up 25.6 %). Food was more expensive by 0.8 % a year ago . discounted heating contrast, an average of 7.5%.
The annual inflation rate in the EU -27 amounted to 2.1% in July up 1.9 % in the previous month. The month as consumer prices fell in the EU increased by 0.2 %.
In July, the lowest annual rates were observed in Ireland (down 1.2%) , Latvia ( minus 0.7%) and Slovakia ( up 1.0 % ) were measured and the highest in Romania (up 7.1% ), Greece ( +5.5 % ) and Hungary (up 3.6%). Compared to the previous month , annual inflation rose in 19 Member States, remained stable in one and fell in six.
DJG / kth / mle / voi