Thursday. 28.03.2024

The euro area average annual inflation rate was 1% in July 2019, down from 1.3% in June. A year earlier, the rate was 2.2%. European Union annual inflation was 1.4% in July 2019, down from 1.6% in June. A year earlier, the rate was 2.2%. These figures are published by Eurostat, the statistical office of the European Union.

The lowest annual inflation rates were registered in Portugal (-0.7%), Cyprus (0.1%) and Italy (0.3%). 

By contrast, the highest annual rates were recorded in Romania (4.1%), Hungary (3.3%), Latvia and Slovakia (both 3.0%). Compared with June, annual inflation fell in fifteen Member States, remained stable in two and rose in eleven.

Inflation-Europe-July

Finland remained in line with the average of the single currency area, and registered an inflation rate of 1% in July, according to Eurostat.

In July, the highest contribution to the annual euro area inflation rate came from services (+0.53 percentage points, pp), followed by food, alcohol & tobacco (+0.37 pp), non-energy industrial goods (+0.08 pp) and energy (+0.05 pp).

Annual inflation down to 1% in the euro area