Eurozone annual inflation hits record high

Annual inflation in 19 eurozone countries accelerated to a record 8.9 percent in July from 8.6 percent in June, according to Eurostat data.

The figure was in line with the forecast of analysts surveyed by DailyFX.

Inflation in the eurozone thus hit a new all-time high again.

A year earlier, the eurozone recorded inflation of just 2.2% p.a.

In July alone this year, consumer prices in the eurozone, according to the final estimate, rose by 0.1%, as forecasted by analysts.

Core annual inflation at the same time was expected to accelerate to 4% from 3.7% a month earlier.