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Inflation in Greece at 2.7% in July, Eurozone at 2.9%

Inflation in Greece at 2.7% in July, Eurozone at 2.9%

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Consumer prices in Greece rose 2.7% in July from a year earlier, down from 3.9% in June, according to Eurostat, the European Union’s statistics agency.

Annual inflation across the 20 countries that use the euro rose to 2.9% in July from 2.8% in June, while the rate for the full 27 member European Union climbed to 3% from 2.9%, Eurostat said.

What drove eurozone prices higher

Within the eurozone figure, services prices added 1.55 percentage points to the annual inflation rate, the largest single contribution. Energy costs added another 0.94 percentage points, while non energy industrial goods and food, alcohol and tobacco each contributed 0.23 percentage points, according to Eurostat’s breakdown of the main components.

Where prices rose fastest, and slowest

Inflation varied widely across the bloc. Sweden recorded the lowest annual rate, at 0.3%, followed by the Czech Republic at 1.3% and Denmark and Hungary, both at 1.6%.

Romania posted the highest annual rate, at 8.2%, ahead of Lithuania at 5.4% and Cyprus and Bulgaria, both at 4.4%.

Compared with June,

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