Economic news

Annual euro area inflation holds steady in July

Eurozone consumer prices in July increased by 1.3% in annual terms, according to Eurostat. Core inflation which excludes such volatile factors as energy, food and alcohol prices rose to 1.2%.

The price of food, tobacco and alcohol in July rose by 1.4%, energy - by 2.2%, services - by 1.5%.

Unemployment in 19 eurozone countries dropped to 9.1 percent in June from 9.2 percent in May.

The ECB still forecasts inflation to slump 'just below 2 percent'.

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