CdM | The inflation rate in the euro area stood at 2.6% year-on-year in July, one tenth of a percentage point higher than the rise in prices observed in June. Moreover, as confirmed by the EU statistics office, Eurostat, in the EU as a whole the rate has risen to 2.8%, two tenths of a percentage point more than in June.
The acceleration in price increases in the euro area reflects the 1.2% rise in the cost of energy, after rising 0.2% year-on-year in June. In contrast, fresh food prices have moderated their rise by three tenths of a percentage point compared with June, to 1% year-on-year.
Likewise, non-industrial energy goods rose by 0.7% in July, in line with the rise in June, while services rose by 4% year-on-year, one tenth of a percentage point less than the increase seen the previous month.
However, core inflation in the euro area – which excludes energy, fresh food and tobacco due to their volatility – has remained stable at 2.9% for the third consecutive month. This figure is the reference used by the European Central Bank (ECB) to set its monetary policy.
Romania records the highest price increaseAmong the EU-27, compared with June 2024, annual inflation has fallen in nine Member States, remained stable in four and increased in fourteen.
However, the lowest annual inflation rates were recorded in Finland (0.5%), Latvia (0.8%) and Denmark (1%), while the highest annual rates were observed in Romania (5.8%), Belgium (5.4%) and Hungary (4.1%).
