Inflation? It has risen again in the euro area and Portugal

Inflation at 2.6% in the eurozone and 2.7% in Portugal in July.

The annual inflation rate of the eurozone stood at 2.6% in July, exceeding the 2.5% in June, but still below the 5.3% from the same month a year ago.  

The estimate is from Eurostat, disclosed by Notícias ao Minuto, and concludes an analysis of the main components of inflation in the eurozone, with "services expected to have the highest annual rate in July (4.0%, compared to 4.1% in June), followed by food, alcohol and tobacco products (2.3%, compared to 2.4% in June), energy (1.3%, compared to 0.2% in June) and non-energy industrial products (0.8%, compared to 0.7% in June)," it reads.

Furthermore, the estimate also points to an underlying inflation rate (excluding energy and unprocessed food) of 2.8%, a stable value compared to June, but below the 3.3% in July 2023.  

Among the highest inflation rates measured in July in the 20 euro area countries, the Harmonized Index of Consumer Prices (HICP) estimates 5.5% in Belgium, 3.5% in Estonia and the Netherlands, and 3.4% in Croatia.

Among the lowest inflation rates observed are Finland with 0.6%, Latvia with 0.8%, and Lithuania with 1.1%. In Portugal, the estimated inflation is at 2.7%.

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