Euro zone's annual inflation rate below the expectations

Euro zone’s annual inflation rate below the expectations

The Euro zone's annual inflation rate eased unexpectedly to 2.3% in July from 2.4% recorded in June, EU statistics institution Eurostat said. Eurostat stated that prices decreased by 0.2% from June due to lower prices for clothing and footwear. The core inflation rate, excluding prices of energy, food, alcohol and tobacco, dropped to 1.8% in July. Member countries which marked the highest annual rates for July are; Slovakia with 8.3%, Hungary with 7.2%, Latvia with 6.7% and Poland with 4.7%, whereas the lowest rates were seen in Finland with 0.2%, Denmark with 1.1% and the Netherlands and Sweden with 1.2% for each. In addition, annual inflation rate was recorded as 2%, 2.6% and 2.2% in Germany, France and Italy,respectively.