Eurozone inflation rate at 2.4 %

The 12-month consumer price index in the 17-member eurozone came in at 2.4 percent in July, Eurostat confirmed Thursday. The inflation rate, which saw no change from June, is in line with the flash estimate released July 31. The inflation rate for the 27-member European Union was also unchanged from June. On a 12-month basis, the inflation rate for the EU came to 2.5 percent, Eurostat said. Inflation was lowest in Sweden, where the annual rate stands at 0.7 percent. In Greece, annual inflation is at 0.9 percent. In Germany and Latvia, the annual rate is 1.9 percent. The highest inflation rate in Europe is in Hungary, where prices are rising at an annual rate of 5.7 percent. The second highest rate is in Malta (up 4.2 percent), followed by Estonia (up 4.1 percent).