Euro zone inflation falls. The Euro Zone’s yearly inflation rate is projected to fall to 5.3% in July 2023. Thir represents a decline from the 5.5% in June, based on an initial estimate provided by Eurostat, the statistical authority of the European Union.
Upon dissecting the chief constituents of the Euro Zone’s inflation, expectations see food, alcohol, and tobacco to post the steepest annual rate in July, at 10.8%, down from 11.6% in June.
Services are next, projected to achieve a rate of 5.6%, an increase from June’s 5.4%. Non-energy industrial goods follow, likely hitting 5.0%, a reduction from 5.5% in the preceding month.
In contrast, energy appears set to log a negative value of -6.1%, a sharper decline than June’s -5.6%.