Eurozone Inflation Hits 2.9% as Energy Prices Soar
The eurozone's annual inflation rate edged up to 2.9 percent in July from 2.8 percent in June, according to a flash estimate by Eurostat.
The increase was driven mainly by renewed energy price pressure, with energy prices expected to rise 10.0 percent year-on-year in July, up from 8.5 percent in June.
Services inflation is also expected to rise to 3.3 percent from 3.2 percent a month earlier.