Eurozone annual inflation was 0.4% in July 2014,
down from 0.5% in June. This is the lowest annual inflation rate since October
2009. In July 2013 the rate was 1.6%. Monthly inflation was -0.7% in July 2014.
European Union annual inflation was 0.6% in July
2014, down from 0.7% in June. A year earlier the rate was 1.7%. Monthly
inflation was -0.5% in July 2014 - - these figures come from Eurostat, the
statistics office of the European Union.
In July 2014, negative annual rates were observed
in Bulgaria (-1.1%), Greece (-0.8%), Portugal (-0.7%), Spain (-0.4%) and
Slovakia (-0.2%). The highest annual rates were recorded in Austria (1.7%),
Romania (1.5%) and Luxembourg (1.2%). Compared with June 2014, annual inflation
fell in thirteen Member States, remained stable in six and rose in eight.
The Irish rate was (0.5%).
The largest upward impacts to Eurozone annual
inflation came from restaurants & cafés (+0.08 percentage points), rents (+0.06
pp) and maintenance of vehicles (+0.05 pp), while fruit (-0.13 pp), vegetables
and telecommunications (-0.11 pp each) had the biggest downward impacts.
The ECB's official target is below but close to