Eurozone Inflation Exceeded Target Rate

The annual inflation rate in the Eurozone rose to 2.1 percent in July, according to the European statistics office on Friday. This just shows that the inflation rate has exceeded the target figure of the European Central Bank, which is a good thing.

Its purpose is to halt the purchasing program by the end of the year and is open for another rate hike in 2019. The headline consumer inflation rose to 2.1 percent year-on-year in July compared to the 2.0 percent in June, driven by more expensive energy prices.

Core inflation indicator, Excluding energy and unprocessed food, grew by 1.3 percent year-on-year.

The central bank has an official order to maintain the inflation rate near the 2.0 percent.