Eurozone Inflation Hits 2.9%, ECB Economist Predicts Continued High Rates

The eurozone's inflation rate rose to 2.9% in July, surpassing June's rate by one-tenth of a percentage point.

In contrast to energy costs, which increased by 10.3%, the price of fresh food remained relatively stable at 2.4%, showing a seven-tenths decrease from June.

The chief economist of the European Central Bank (ECB), Philip Lane, forecasted that inflation will remain around 3% for the rest of 2026, attributing this prediction to the ongoing crisis in the Middle East and weather phenomena like 'El Niño'.