The euro area annual inflation rate was 2.6% in July 2024, up from 2.5% in June. A year earlier, the rate was 5.3%. European Union annual inflation was 2.8% in July 2024, up from 2.6% in June. A year earlier, the rate was 6.1%. These figures are published by Eurostat, the statistical office of the European Union.
The lowest annual rates were registered in Finland (0.5%), Latvia (0.8%) and Denmark (1.0%). The highest annual rates were recorded in Romania (5.8%), Belgium (5.4%) and Hungary (4.1%). Compared with June 2024, annual inflation fell in nine Member States, remained stable in four and rose in fourteen.
In July 2024, the highest contribution to the annual euro area inflation rate came from services (+1.82 percentage points, pp), followed by food, alcohol & tobacco (+0.45 pp), non-energy industrial goods (+0.19 pp) and energy (+0.12 pp).
Source: Eurostat
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