The Eurozone's annual inflation rate rose by 2.1% in July, confirming its stability above the European Central Bank's target, the European Bureau of Statistics said today. This is good news for ECB, which is seeking to end the bond buying program by the end of the year and raise interest rates next year.
Consumer inflation accelerated to 2.1% YoY in July from 2% in June, boosted by rising energy costs. Excluding energy and food prices, core inflation rose by 1.3 percent on a yearly basis.
