Mubasher: Preliminary reading indicated that the Eurozone annual inflation would come at 1.1 % in July, down from 1.3% in June, according to data released on Wednesday.

A look at the main Eurozone inflation components, food, alcohol and tobacco are set to be the biggest contributor to July’s annual inflation with a rate of 2%, while services and energy sector would contribute with 1.2% and 0.6%, respectively, the European Union’s (EU) statistical office Eurostat said.

For the non-energy industrial goods, another inflationary component, the annual rate would be 0.4%.

By 9:10 am GMT, the EUR/USD pair ticked down by 0.09% to $1.1145.