Eurozone inflation rises to 2.9% in July
Eurozone inflation rose to 2.9% in July from 2.8% in June, the EU statistics agency Eurostat said Friday, as energy prices increased.
The figure remained above the European Central Bank's 2% target and matched predictions by analysts for Bloomberg.
Core inflation, which excludes volatile energy and food prices, rose to 2.5% in July after slowing to 2.4% in June. Energy prices rose 10%, up from 8.5% in June, while food and drinks inflation slowed to 1.2% from 1.5%.
ECB President Christine Lagarde warned last week that the energy shock from the US-Iran war “could intensify further”. The central bank kept its key deposit rate unchanged on July 23 but signalled that a rise in September remained possible as renewed fighting in the Middle East threatened to push prices higher.
The United States and Iran traded new military attacks this month, while mediator Pakistan said Thursday that negotiations between them were continuing.
Update
Core inflation rose to 2.5% in July from 2.4% in June.
Energy prices rose 10% in July, up from 8.5% in June.
Food and drinks inflation slowed to 1.2% from 1.5%.
European Central Bank President Christine Lagarde warned the energy shock from the US-Iran war could intensify further.
The ECB kept its key deposit rate unchanged on July 23 but signalled a possible September rise.
Source note: AFP news report published on 31 July 2026 at 09:32:57 UTC.
Update
Eurozone inflation rose from 2.8% in June to 2.9% in July.
The EU statistics agency reported the figure.
Official data showed energy prices climbed due to the war in the Middle East.
The July figure was in line with predictions by analysts for Bloomberg.
Source note: AFP news report published on 31 July 2026 at 09:10:55 UTC.
Uncertainty notes
The future effect of the Middle East fighting on eurozone prices remains uncertain.
Source
AFP news report published on .