Annual inflation in the eurozone edged up to 1.9pc in July, but remained below 2pc for the second month in a row Consumer prices across the 12-nation bloc rose to 1.9pc from 1.8pc in June, having declined in the three months to June. Inflation hit a 2002 high of 2.5pc in March, well above the 2pc target set by the European Central Bank
Ireland was again confirmed as having the highest rate, with an annual rate of inflation of 4.2pc, above 3.8pc in the Netherlands and 3.6pc in Greece and Portugal The rate of price growth here is more than double the eurozone average and is more than four times higher than Germany's 1.0pc rate
In the eurozone in July, the services sector remained one of the areas with the most rapidly rising costs, with prices in hotels and restaurants up 1.1pc on the month, health costs up 0.3pc and items in the "recreation and culture" index up 0.9pc This compares to the staggering price increases seen in Ireland in July, where restaurant and hotel prices increased by 7.2pc and health costs soared 9.9pc/www.fxcentre.com