Price inflation steady in Eurozone June to July

BRUSSELS, July 31 (UPI) -- The annual inflation rate held at 1.6 percent in July in the 17-member eurozone, Eurostat said Wednesday, releasing a flash estimate subject to revision.

The inflation rate a year earlier stood at 2.4 percent.

Eurostat said food, alcohol and tobacco prices had the sharpest annual increase with a gain of 3.5 percent, up from 3.2 percent in June.

Inflation was relatively calmer in other categories. Energy prices at an annual rate rose 1.6 percent in July, while the price of services rose 1.4 percent.

Core prices, which excludes food and energy prices, rose 1.2 percent in July, unchanged from June. Prices excluding only energy rose 1.6 percent in July, also consistent with June.