MADRID, 18 Ago. (EUROPA PRESS) –
The year-on-year inflation rate in the euro area fell two tenths in July compared to the previous month, thus reaching 5.3%, which represents the lowest increase in prices since January 2022, according to the second estimate by Eurostat, which, however, maintains the underlying rate at 5.5%.
For its part, in the European Union (EU) as a whole, the year-on-year inflation rate stood at 6.1%, three tenths below the reading registered in June. This is the smallest price increase since January 2022.
The moderation in the rise in prices in the euro area in July was mainly due to the 6.1% drop in the cost of energy, compared to the 5.6 drop in June, while the rise in the price of fresh food it was 9.2%, two tenths above the figure for the previous month.
Likewise, in the case of services, prices rose 5.6% year-on-year, two tenths more than in May, while non-energy industrial goods became five tenths less than the previous month, with a rise of 5%. .
Excluding the impact of energy from the calculation, the year-on-year rate of inflation in July stood at 6.7%, compared to 6.9% the previous month, while also excluding the impact of food prices, alcohol and tobacco, the core inflation rate remained stable at 5.5%.
Among the 27, the lowest annual inflation rates were registered in Belgium (1.7%), Luxembourg (2%) and Spain (2.1%), while the most intense rises in prices corresponded to Hungary (17 .5%), Slovakia and Poland (both with 10.3%).
The rebound in Spain’s harmonized inflation rate to 2.1% in July reduced the favorable price differential with respect to the euro area average to 3.2 percentage points from 3.9 the previous month.
