Eurozone inflation rises to 2.9% in July, mainly driven by energy price increases

Preliminary data released by Eurostat on July 31 shows that the inflation rate in the eurozone for July 2026 was 2.9% year-on-year, higher than June’s 2.8%. The data indicates that in July, energy prices in the eurozone rose by 10.0% compared to the same period last year, significantly higher than June’s 8.5%, making it the main factor driving the overall price increase; service prices were up 3.3% year-on-year, slightly higher than June’s 3.2%; prices of non-energy industrial goods increased 0.9% year-on-year, higher than June’s 0.7%. Food and alcohol-tobacco prices went up 1.2% year-on-year, below the 1.5% in June. (Xinhua News Agency)