Eurozone inflation rises to 2.9% in July

Data from Eurostat, the European Union’s statistical office, revealed on Friday that inflation in the eurozone accelerated in July, driven by rising energy and services costs.

The annual inflation rate rose to 2.9% in July, up from 2.8% in June, in line with economists’ expectations.

The eurozone economy grew by 0.4% in the second quarter of 2026.

The core inflation rate, which excludes volatile prices for energy, food, alcoholic beverages, and tobacco, increased by 2.5%, compared to 2.4% in the previous month.

Prices for food, alcoholic beverages, and tobacco rose by 1.2%, while prices for non-energy industrial goods increased by 0.9%.