Eurozone consumer price inflation accelerated further in July to set a new high as prices of food rose at a faster pace, while energy price growth remained high despite easing, raising the prospect of a bigger interest rate hike from the European Central Bank in September. Consumer price inflation climbed to a record 8.9 percent from 8.6 percent in June, preliminary data from Eurostat showed Friday. Economists had forecast the rate to remain unchanged.
Excluding energy, fresh food and alcohol & tobacco, the consumer price index rose 4.0 percent year-on-year following a 3.7 percent increase in June. The core inflation figure without considering energy and fresh food prices, shot up to 5.0 percent from 4.6 percent in June. Economists had forecast a 4.7 percent increase. Energy prices continued to rise at the fastest pace among the main CPI components. That said, the rate of increase in energy prices slowed to 39.7 percent from 42.0 percent in June.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.