Inflation in the eurozone in July again updated the record

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%.