Eurozone Inflation Hits 2.9% in July 2026

The eurozone's annual inflation rate edged up to 2.9% in July 2026, according to data released by Eurostat.

This marks a slight acceleration from the 2.8% recorded in June, with energy prices driving the increase at 10.0% year-on-year, compared to an 8.5% gain in the previous month.

Services inflation also picked up to 3.3%, while prices for non-energy industrial goods rose by 0.9%. In contrast, food price inflation slowed to 1.2% annually, down 0.3 percentage points from June.

The European Central Bank (ECB) is closely monitoring these developments as it balances its price stability mandate against the risk of dampening economic growth in the currency bloc.