Inflation in the euro area stood at 2.9% in July, rising by a tenth

Inflation in the euro area rose by a tenth in July and its year-on-year rate stood at 2.9%, after falling in June for the first time in the year, according to preliminary data published on Friday by Eurostat, the European Commission's statistical office.

The biggest inflation has been in energy, which has risen by 10% in July, after closing June at 8.5%, at a time when fuel prices are rising as a result of the war in the Middle East.

Food, alcoholic beverages and tobacco, on the other hand, have been the only products that have reduced their prices, rising by 1.5% in June to 1.2% in July.

The so-called underlying inflation, an index that excludes energy and food from the calculation at highly variable prices, has risen by a tenth, from 2.4% in June to 2.5% in July, a figure used by the European Central Bank as a reference for its monetary policy.

This data shows that, after the fall in June, inflation has recovered its upward trend, starting 2026 with an increase of 1.7%, in January, with a year-on-year increase of 1.9% in February, in March of 2.6%, in April of 3%, in May of 3.2%, in June it fell to 2.8% and in July it rose again, reaching 2.9%.

The year-on-year inflation rate has therefore been nine tenths above the 2% target set by the European Central Bank.

In Spain, harmonised inflation has been measured at 3.8%, two tenths higher than in June, and in France at 2.4%, four tenths higher than in the previous month. Lithuania is the country with the highest inflation (5.6%) and Estonia the lowest (2%).