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Inflation in the eurozone in July again updated the record


Temmuz, 29 2022
watermark Economic news

According to preliminary data from the Statistical Office of the European Union, consumer prices in the eurozone increased by 8.9% in annual terms in July. In June, inflation was 8.6%. The July figure was the highest in the history of calculations. Analysts on average predicted an 8.6% increase in consumer prices this month.


On a monthly basis, the indicator in July increased by 0.1% after rising by 0.8% a month earlier.


Experts note that inflation in Europe now exceeds the indicator of the European Central Bank, which is 2%, by more than four times. Such an impressive increase in consumer prices is primarily due to an increase in energy prices. Their price increase in July was 39.7% year-on-year after a 42% rise in June.


Food, alcohol and tobacco in July rose by 9.8% against 8.9% a month earlier, industrial goods increased in price by 4.5% (against 4.3%). The growth in the cost of services accelerated from 3.4% to 3.7%.


The CPI Core index (prices excluding food and energy) in July increased by 4% year-on-year after an increase of 3.7% in the previous month. Analysts on average expected an increase of 3.8%.



    






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