YEREVAN, August 19. /ARKA/. Inflation in the eurozone slowed to 1% in July, according to official data from the EU statistics agency, down from the European Central Bank’s target of just below 2%, Finmarket reported.
Consumer prices, not counting volatile factors such as energy, food and alcohol costs, rose in July by 0.9% in annual terms. The growth rate slowed down from 1.1% in June. Prices for food, alcohol and tobacco products rose in July by 1.9% compared with the same month of 2018. Energy prices rose by 0.5%, services – by 1.2%.
In 28 EU countries, the annual price increase was 1.4% after rising 1.6% a month earlier. On a monthly basis prices across the EU fell by 0.3%.
The lowest annual inflation was observed in Cyprus (0.1%) and Italy (0.3%). In Portugal, 0.7% deflation was recorded. The highest growth in consumer prices was recorded in Romania (4.1%), Hungary (3.3%), Latvia and Slovakia (3.0%).
In Germany, annual inflation in July slowed to 1.1% from 1.5% a month earlier, in France – to 1.3% from 1.4%, in Italy – to 0.3% from 0.8%. In Spain, prices rose 0.6%, as a month earlier.
The ECB’s governing council last month left the rate on the bank’s main refinancing operations at zero, on its marginal lending facility at 0.25% and on its deposit facility at -0.4%. – 0–
