Mubasher: The final estimates confirmed that the Eurozone annual inflation rose to 2.1% last July, from 2% in June, according to official data released on Friday.

The annual inflation in the European Union (EU) was also observed rising to 2.2% in July from 2.1% in the prior month, the EU statistical office Eurostat said.

Stripping out energy, the harmonised indices of consumer prices (HICP) rose to 1.4% in July, compared with 1.2% in the same month of the prior year.

On an annual basis, the Eurozone’s annual inflation rose in July from 1.3%, while in the EU the rate climbed from 1.5%.

The Eurostat’s figures showed that, the energy sector was the key contributor to the Eurozone inflation at 9.5% in July, followed by 2.5% for food alcohol and tobacco, 1.4% for the services segment, and 0.5% by non-energy industrial goods.

The lowest annual rates were observed in Greece at 0.8%, Denmark at 0.9% and Ireland at 1%, whereas the highest annual inflationary levels were seen in Romania at 4.3%, Bulgaria at 3.6%, with 3.3% for Estonia.

By 9:20 am GMT, the EUR/USD pair went up 0.15% to $1.1394.