Eurozone annual inflation was 0.4% in July 2014, down from 0.5% in June., according to to Eurostat, the EU’s statistical office.
This is the lowest annual inflation rate since October 2009. While in July 2013 the rate was 1.6%, it was -0.7% in July 2014.
Looking at Iberian countries, Portugal’s CPI was down by 0.9% in July compared with the same period of 2013, the Instituto Nacional de Estatistica has reported.
According to Portugal’s national statistics office, excluding energy and unprocessed food, the annual rate was -0.4%. The CPI monthly rate decreased to -0.7% (0.1% in June 2014 and -0.2% in July 2013), while
the CPI 12-month average rate was -0.2% in July.
In July 2014, the Portuguese Harmonised Index of Consumer Prices (HICP) annual rate of change was -0.7% (-0.2% in June), 1.1 percentage points below the rate estimated by Eurostat for the eurozone.
In Spain, prices were estimated to have fallen 0.4% over the year. The annual change of the CPI for the month stood at -0.3% in July. At the same time, the Harmonised Index of Consumers Prices (HIPC) stood at -0.4%, showing a four tenth decrease compared with June, the Instituto Nacional de Estadistica said.
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