Eurozone Inflation Hits 2.9% in July Amid Rising Energy Costs

The eurozone's annual inflation rate rose to 2.9% in July 2026, up from 2.8% in June, according to data released by Eurostat.

Energy prices recorded the largest increase among inflation components, rising 10.0% year-on-year compared with 8.5% in June. Services inflation accelerated to 3.3%, while non-energy industrial goods prices increased 0.9%.

Food price inflation slowed down in July, with prices rising 1.2% year-on-year, a decrease of 0.3 percentage points from the previous month. Core inflation, which excludes energy and food, edged up to 2.5% on an annual basis.