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EU inflation up to 0.2 pct in July, dozen countries remain in deflation

Xinhua, August 18, 2016 Adjust font size:

Annual inflation stood at 0.2 percent in July in both the 19-country eurozone and wider 28-country European Union (EU), official data showed Thursday, while a dozen member states still recorded deflation.

The overall readings of eurozone and EU suggested upward momentum, both up from the 0.1 percent in June, but showed no sign of progress compared with one year ago, and were still way off the "around 2 percent" target set by the European Central Bank (ECB), according to Eurostat, the bloc's statistic agency.

Meanwhile, it still could be worrisome as a total of 12 member states remained in negative territory in July, with the Czech Republic being the only one hit the turning point from negative 0.1 percent in June to 0.5 percent in July.

Among those in positive territory, Belgium recorded the highest rate, up to 2 percent in July, and Britain, which voted to leave the bloc in a referendum in June, seemed to get little effect from the referendum result and saw a record inflation up to 0.6 percent one month later.

The largest upward impacts to the eurozone's annual inflation came from restaurants and cafe, vegetables and fruit, while the energy sector had the biggest downward impacts, Eurostat added. Enditem