Eurozone Inflation Stable At 2.0%

(RTTNews) - Eurozone inflation remained stable at the European Central Bank's 2 percent target in July, data from Eurostat showed on Friday.

The harmonized index of consumer prices increased 2.0 percent year-on-year in July, the same rate of increase as seen in June. Inflation was forecast to ease to 1.9 percent. Core inflation that excludes prices of energy, food, alcohol and tobacco also remained stable in July, at 2.3 percent.

Prices of food, alcohol and tobacco registered a faster growth of 3.3 percent following a 3.1 percent rise. Growth in non-energy industrial goods prices increased to 0.8 percent from 0.5 percent.

Meanwhile, energy prices fell 2.5 percent after a 2.6 percent drop and services inflation eased to 3.1 percent from 3.3 percent.