Annual inflation in the euro area was 0.4 percent in July this year, down from 0.5 percent in June, according to a report released by Eurostat, the Statistical Office of the European Communities. In July 2013, the annual inflation rate was 1.6 percent. Meanwhile, monthly inflation in the euro area was -0.7 percent in July this year.
Meanwhile, in the European Union (EU-28) annual inflation was 0.6 percent in July, down from 0.7 percent in June. In July 2013, the annual inflation rate in the EU-28 was 1.7 percent, while the monthly inflation rate in the EU-28 was -0.5 percent in July of the current year.
In July this year, annual inflation in the EU-28 fell in 13 states, remained stable in six and increased in eight states as compared with June. The lowest annual inflation rates were observed in Bulgaria (-1.1%), Greece (-0.8%), Portugal (-0.7%), Spain (-0.4 percent) and Slovakia (-0.2%), while the highest were observed in Austria (1.7%), Romania (1.5%) and Luxemburg (1.2%).
The lowest 12-month averages up to the end of July this year were registered in Greece (-1.5%), Bulgaria (-1.4%) and Cyprus (-0.5%), while the highest were seen in Estonia and Finland (both 1.5%) and Romania (1.4%).