Inflation in the Eurozone
According to Eurostat the Statistical Office of the European Communities in Luxembourg, the EU statistics agency, Eurozone annual inflation for July was raised to 1.9%, slightly up from the 1.8% of June data.The highest inflation rates indicated for July: Country Rate Ireland 4.2% the Netherlands 3.8% Greece 3.6% Portugal 3.6%
The lowest inflation rates indicated for July: Country Rate Germany 1.0% Belgium 1.1% UK 1.1%The lowest 12 month averages up to July 2002 were experienced in the United Kingdom (1.2%), Germany and Luxembourg (1.7%) and the highest were the Netherlands (4.6%), Ireland (4.4%) and Greece (3.8%). Italian inflation was also corrected up to 2.4% from the original 2.2% stated by Italstat, the Italian statistics agency. Seperate from the above, the annual inflation went down from 0.3% to 0.1% in Switzerland while same showed an increase of 0.4%, increasing from 1.1% to 1.5% in the U.S.