Annual inflation rate of euro zone reaches a record level in July

The annual inflation rate of the euro zone is estimated at 8.9 % in July, up compared to June, according to an estimate of Eurostat.

Le Monde

This is the energy that knows the highest annual inflation rate over the past month. Inflation broke a new record in the euro zone in July, 8.9 % over a year, Announcement Friday July 29 Eurostat European Union Statistical Office.

With regard to the main components of the inflation of the euro zone, energy should know the highest annual rate in July (39.7 %, compared to 42.0 % in June), followed by ‘Food, alcohol and tobacco (9.8 %, compared to 8.9 % in June), industrial goods excluding energy (4.5 %, compared to 4.3 % in June) and services (3 , 7 %, compared to 3.4 %in June).

 annual inflation rate in the euro zone, July 2022.
Annual inflation rate in the euro zone, July 2022. Eurostat

Economic growth has done much better than expected in the second quarter, at 0.7 % compared to the previous quarter.

If the war in Ukraine continues to flambé prices in the 19 countries sharing the single currency, it has not yet stalled the economy. After 0.5 % GDP growth from January to March, economists expected a marked slowdown. But the activity was carried by the good performance of tourist services thanks to the lifting of the restrictions linked to the pandemic.

/Media reports.