Eurozone's annual inflation unchanged at 2% in July, above estimates
Consumer price index in euro area up 2% annually, in line with European Central Bank's target, while unchanged from previous month
ISTANBUL
The annual consumer inflation rate in the euro area was 2% in July, stable from the previous month, according to a preliminary estimate from Eurostat on Friday.
The figure matched the European Central Bank's (ECB) medium-term target, but was above the market expectations of 1.9%.
The biggest upward driver of inflation was food, alcohol & tobacco (3.3%) in July, followed by services (3.1%), and non-energy industrial goods (0.8%).
On the other hand, energy prices were the biggest downward contributor to the inflation, down 2.5% annually.
The core inflation rate, which excludes volatile food and energy prices, rose 2.3% annually, stable from the previous month and matching estimates.
Estonia had the highest annual rate with 5.6%, followed by Croatia and Slovakia with 4.5% and Latvia with 3.9%.
On the contrary, the lowest inflation rate was seen in the Greek Cypriot Administration, with 0.1%, followed by France (0.9%) and Ireland (1.6%).
On a monthly basis, the consumer price index was unchanged from the previous month in July, down from 0.3% in June.
The eurozone/euro area, or EA20, represents member states that use the EU's single currency, the euro.
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