Eurostat's initial estimates for inflation were confirmed, as the final data showed that it rose to 2.6% in the euro area on an annual basis from 2.5% in June, while in Greece it rose to 3% from 2.5% in June.

A year earlier, the rate in the Eurozone was 6.1%. 

The lowest annual rates were recorded in Finland (0.5%), Latvia (0.8%), and Denmark (1.0%). The highest annual rates were recorded in Romania (5.8%), Belgium (5.4%), and Hungary (4.1%). Compared with June 2024, annual inflation decreased in nine Member States, remained stable in four, and increased in fourteen.

In July 2024, services (+1.82 percentage points, bp) had the highest contribution to the annual inflation rate in the euro area, followed by food, alcohol, and tobacco (+0.45 bp), non-energy industrial goods (+0.19 bp), and energy (+0.12 bp).