BUSINESS EU, euro area inflation rates continue to rise in July

BUSINESS

EU, euro area inflation rates continue to rise in July

Xinhua

07:22, August 20, 2020

BRUSSELS, Aug. 19 (Xinhua) -- Inflation in the euro area continued to rise in July, climbing to 0.4 percent from 0.3 percent measured in June, but remained lower than the annual rate of 1 percent in July 2019, figures released by Eurostat on Wednesday showed.

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File photo: AFP

Meanwhile, annual inflation rate in the whole European Union (EU) stood at 0.9 percent in July, up from 0.8 percent a month ago. In June 2019, the rate stood at 1.4 percent, said the EU's statistical office.

The lowest annual rates were registered in Greece (-2.1 percent), Cyprus (-2.0 percent) and Estonia (-1.3 percent). The highest annual rates were recorded in Hungary (3.9 percent), Poland (3.7 percent) and Czechia (3.6 percent).

The highest contribution to the inflation rate came from non-energy industrial goods and services (both +0.42 percentage points), followed by food, alcohol and tobacco (+0.38 percentage points) and energy (-0.83 percentage points).

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