Inflation in the euro area accelerated in July to a maximum since late December 2012

In July, the growth of the composite consumer price index in the euro area reached its highest level since December 2012 – 2.1%, after an increase of 2% in June, according to data from Eurostat. Thus, wrote, inflation in the eurozone is accelerating for the third month in a row. The indicator coincided with the forecasts of analysts. Inflation in the euro area is exceeding the goal of the European Central Bank “lower, but close to 2%” for two months in a row. Excluding the price of energy, food, alcohol and tobacco, consumer price growth accelerated to 1.1% from 0.9% in June. Energy increased in price in July by 9.4%. Prices for food decreased by 2.5%.

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