Harmonised inflation rises in July

The EU-harmonised consumer price inflation rate rose in July to 2.3%, compared with 1.7% in July.

Compared with the previous month, prices fell by 0.7%. The main fall was recorded in prices of clothing and footwear, down 13.2% compared with June owing to the summer sales, while furniture and household equipment fell by 2.1%.

On the other hand, there was a fairly steep month on month rise in the prices of food, (1.0%), housing, water and gas (1.53) and recreation and culture (1.3%).

We estimate the 12-month inflation rate at 1.8%.

 

Fiona Mullen