Germany's inflation holds at 2% in July; core inflation at 2.7%

The Harmonised Index of Consumer Prices (HICP), used for eurozone monetary policy, increased by 1.8 per cent year-on-year and 0.4 per cent from June.

A breakdown of key components showed a continued drag from energy prices, which fell by 3.4 per cent in July after a 3.5 per cent drop in June. In contrast, food prices rose slightly to 2.2 per cent from 2.0 per cent. Services inflation eased to 3.1 per cent from 3.3 per cent, while goods saw a modest price increase of 1 per cent.

ALCHEMPro News Desk (SG)