Eurozone CPI inflation unchanged for third straight month

Core inflation in the eurozone officially held steady for the third straight month in July, according to final estimates published on Tuesday by Eurostat.

The core harmonised index of consumer prices came in at 2.9% year-on-year last month, in line with preliminary data released two weeks ago and matching the inflation rate of both May and June.

July's figure tied the second-lowest reading for core inflation – which excludes volatile items like food, energy, alcohol and tobacco – since February 2022.

In line with the preliminary data, core consumer prices actually fell 0.2% month-on-month.

Meanwhile, headline consumer-price inflation – which includes products with volatile price swings – increased to 2.6% year-on-year in July, from 2.5% previously, with prices unchanged month-on-month after a 0.2% increase in June.