Eurozone Inflation Slightly Rises to 2.6% in July 2024

In July 2024, inflation in the eurozone increased slightly to 2.6%, up from 2.5% in June.

This is a decrease from the 5.3% rate recorded in July of the previous year. Meanwhile, inflation across the European Union rose to 2.8% in July 2024, compared to 2.6% the previous month, and down from 6.1% a year ago.

These statistics are provided by Eurostat, the European Union’s statistical office.

The lowest annual inflation rates were seen in Finland (0.5%), Latvia (0.8%), and Denmark (1.0%). Conversely, Romania (5.8%), Belgium (5.4%), and Hungary (4.1%) reported the highest rates.

READ MORE:

Will Jerome Powell Hint at Major Rate Cuts This Friday?

Between June and July 2024, nine EU countries experienced a decrease in annual inflation, four saw it remain unchanged, and fourteen observed an increase.

In July, services had the largest impact on the euro area’s annual inflation rate, contributing +1.82 percentage points, followed by food, alcohol, and tobacco (+0.45 pp), non-energy industrial goods (+0.19 pp), and energy (+0.12 pp).

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.