Euro Area Annual Inflation Rises to 2.6% in July

Euro area annual inflation is projected to reach 2.6% in July 2024, a slight increase from 2.5% in June, according to a flash estimate by Eurostat, the European Union's statistical office.

Among the main components of euro area inflation, services are expected to have the highest annual rate at 4.0%, down slightly from 4.1% in June. This is followed by food, alcohol, and tobacco at 2.3%, compared to 2.4% in the previous month. Energy inflation shows a notable rise to 1.3% from 0.2% in June, while non-energy industrial goods are expected to see an annual rate of 0.8%, up from 0.7% in June.