Eurozone Inflation Holds Steady at 2.9%, Aligns with ECB Expectations

The Eurozone's Harmonized Index of Consumer Prices (HICP) remained steady at 2.9% in July, matching market expectations and aligning with the European Central Bank's (ECB) projections.

This indicates that inflation is on a gradual cooling path, despite persistent price pressures in services and energy.

The core inflation rate, which excludes volatile food and energy prices, also came in at 2.9% year-on-year, unchanged from June.