London, Friday, 20 July 2022
According to early estimates, the annual inflation rate in the Euro Area rose from 8.6 percent in June to a new record high of 8.9 percent in July 2022.
Prices continued to rise for food, alcohol, and tobacco (9.8% compared. 8.9% in June), non-energy industrial products (4.5% vs. 4.3%), and services (3.7% vs. 3.4%), although prices for energy were somewhat lower.
The figures exceeded market estimates of 8.6%. (39.7 percent vs 42 percent ). Inflation surged to 5.4 percent from 4.9 percent when energy was excluded, and the core index—which excludes the cost of energy, food, alcohol, and tobacco—rose to 4 percent from 3.7 percent.
Consumer prices increased by 0.1 percent as compared to the prior month.
(Source: EUROSTAT // Report and edit by: The Decision Maker - Finance editors)