The European Central Bank is aiming for an inflation rate of 2 percent for the euro zone in the medium term. In July, consumer price inflation was now above this mark.
In the euro zone, the inflation rate rose above the two percent mark in July. In a year-on-year comparison, consumer prices rose by 2.2 percent, as the Eurostat statistics office announced on Wednesday after a second estimate in Luxembourg.
The authority thus confirmed a first survey. The inflation rate is thus higher than it has been since October 2018. In June the rate of inflation was 1.9 percent. The European Central Bank is aiming for an inflation rate of 2 percent in the medium term. Monthly prices fell 0.1 percent in July. Here, too, the first estimate was confirmed.
Once again, energy prices contributed to general inflation, which rose by 14.3 percent compared to the same month last year. By contrast, food prices rose below average in July.
The annual rate for core inflation, which excludes prices for energy and food, meanwhile fell from 0.9 percent to 0.7 percent. The first survey was thus also confirmed. Core inflation is considered by many economists to be more indicative of the basic price trend.
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
