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ECONOMY

Eurozone inflation rises to 2.9% in July on higher energy costs

ISTANBUL

Annual consumer inflation in the eurozone rose to 2.9% in July, up from 2.8% in June, according to a flash estimate released by Eurostat on Friday.

Energy prices recorded the sharpest annual increase among the main components, climbing 10% in July after an 8.5% rise in June.

Services inflation also edged higher to 3.3% from 3.2%, while inflation for non-energy industrial goods increased to 0.9% from 0.7%.

Food, alcohol and tobacco prices rose 1.2% year-on-year, slowing from a 1.5% increase in June.

Core inflation, excluding energy, food, alcohol and tobacco, increased to 2.5% from 2.4%.

On a monthly basis, consumer prices in the eurozone rose an estimated 0.2% in July.

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