Economic Buzz: Eurozone inflation up from 2.8% to 2.9% in July

The annual inflation rate in the Eurozone is expected to stand at 2.9% in July, an uptick from 2.8% registered in June, the European Commission's statistical office Eurostat revealed in its preliminary report published on Friday.

Core inflation, excluding energy and unprocessed food, was projected to stagnate month-on-month and to rise by 2.2% year-on-year.

The report attributed the predicted rise in the overall index to the expected 10% annual rise in energy, followed by services at 3.3%, food, alcohol and tobacco at 1.2%, and non-energy industrial goods at 0.9%.

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