Annual inflation up in both EU, eurozone in July

By Gokhan Ergocun

ISTANBUL (AA) - The annual inflation rate rose in both the EU and eurozone in July, to 2.8% and 2.6%, respectively, official figures from Eurostat showed on Tuesday.

The rate was at 2.6% in the EU in June and 2.5% in the euro area, said Eurostat.

The lowest annual rates were seen in Finland (0.5%), Latvia (0.8%) and Denmark (1.0%), while the highest annual rates were posted by Romania (5.8%), Belgium (5.4%), and Hungary (4.1%).

Versus June 2024, annual inflation fell in nine member states of the EU, remained stable in four, and rose in 14.

In July, the highest contribution to the annual euro area inflation rate came from services, followed by food, alcohol & tobacco, non-energy industrial goods, and energy.

The eurozone/euro area, or EA19, represents member states that use the bloc's single currency, the euro, while the EU27 includes all of its member countries.