In July, consumer prices in the euro area increased by 2.1% compared with July last year, after rising by 2% in June, according to the final data of Eurostat. The increase in consumer prices in July this year has been the strongest since December 2012 with the inflation target of the European Central Bank “slightly less than 2% in annual terms”. The indicator coincided with the forecasts of analysts. Compared to the previous month, prices fell by 0.3%. Excluding the price of energy, food and alcohol, consumer prices rose 1.1% in annual terms after rising 0.9% in June. In the European Union, consumer prices increased by 2.2% in annual terms and fell by 0.2% compared with June.
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