The headline annual inflation rate in the Eurozone was unchanged from the prior month at 2% in July of 2025, aligned with the flash estimate to remain slightly above the initial market expectations of 1.9%. This marks the second consecutive month that inflation has aligned with the European Central Bank's official target. Price growth slowed for services (3.2% vs 3.3% in June), tying the three-year low from May and offsetting accelerations in most other areas of the bloc's consumer basket. Prices rose faster for non-energy industrial goods (0.8% vs 0.5%) and food, alcohol, and tobacco (3.3% vs 3.1%), deflations lowed for energy (-2.4% vs -2.6%). Meanwhile, core inflation, which excludes energy, food, alcohol, and tobacco, remained unchanged at 2.3%, its lowest level since January 2022.