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Eurozone inflation stable at 0.2 pct in July

Xinhua, July 31, 2015 Adjust font size:

The inflation in Eurozone stayed unchanged in July at 0.2 percent, official data showed on Friday, suggesting the single currency bloc still faces challenges to meet its ambitious inflation goal.

Services sector contributed most to the zone's July consumer price rising, up by 1.2 percent, according to the statistical office of the European Union (EU) Eurostat.

The price of food, alcohol and tobacco followed, rising 0.9 percent, less than the 1.1 percent in June. Energy continued to tumble however, at negative 5.6 percent, greater than the negative 5.1 percent in June.

The data is far below the "below, but close to 2 percent" target of the European Central Bank, which suggested that the bank's one-trillion-euro quantitative easing had yet received desired effects and raised pressure on the bloc's expansionary monetary policy.

Meanwhile, the jobless rate in the euro area turned out flat in June, the seasonally-adjusted figure was 11.1 percent, also stable compared with May, according to Eurostat. Endit