Euro Area CPI inflation confirmed at 2.6% in July

The annual CPI inflation rate in the Euro Area was confirmed at 2.6% in July, while accelerating from 2.5% in June.

A year earlier, CPI inflation stood at 5.5%.

In July, inflation picked up for energy (1.2% YoY versus 0.2% YoY in June), while it remained steady for non-energy industrial goods, at 0.7%.

In the meantime, inflation eased for food, alcohol and tobacco (2.3% YoY versus 2.4% YoY in June).

Annual core CPI inflation, which excludes volatile categories such as food and energy, was stable at 2.9% in July, final data by Eurostat showed.

The Euro was last little changed on the day against the US Dollar, with the EUR/USD currency pair trading at 1.1078.

The major Forex pair was holding in proximity to a fresh 34-week high of 1.1089, which it registered earlier in the European session.