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Euro area's inflation rate expected to dip to 5.3% in July: Eurostat

01 Aug '23
1 min read
Pic: Shutterstock
Pic: Shutterstock

Insights

  • Euro area's annual inflation rate is projected to drop to 5.3 per cent in July 2023, down from 5.5 per cent in June.
  • This decrease is partially attributed to the reduction in inflation for non-energy industrial goods, which fell to 5 per cent in July.
  • Energy's inflation rate was minus 6.1 per cent in July compared to minus 5.6 per cent in June.
The annual inflation rate in the Euro area is expected to fall to 5.3 per cent in July 2023, a slight dip from 5.5 per cent in June 2023, as per a flash estimate released by Eurostat, the statistical office of the European Union (EU).

Among the primary contributors to the Euro area inflation, non-energy industrial goods and energy saw contrasting trends. The inflation rate for non-energy industrial goods slipped to 5 per cent in July from 5.5 per cent in June.

Energy, on the other hand, recorded a deeper negative inflation rate of minus 6.1 per cent in July compared to minus 5.6 per cent in June, as per Eurostat.

Fibre2Fashion News Desk (DP)

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