The inflation rate in the euro area is expected to reach 8.9% in July 2022, hitting a new record level after June (8.6%), according to the latest estimates published by Eurostat, the Statistical Office of the European Union, on Friday 29 July.
Due to the Russian invasion of Ukraine, this indicator has been peaking at record levels month after month since November.
High inflation in the euro area is mainly driven by soaring energy prices.
This component should thus see an annual inflation...