The annual rate of inflation in the euro zone nudged up to 2.2% in July from 2.1% the previous month, the EU's Eurostat statistics agency said this morning.
The July rate was slightly above analysts' forecasts' of 2.1% but was in line with an earlier estimate from Eurostat. The European Central Bank defines price stability as inflation 'close to but just below 2%' but said last month that runaway oil prices would probably keep the rate above that this year.
The July increase was driven by a jump in the price of housing, transport and alcohol and tobacco while prices for communication, clothing, recreation and culture had eased.
Separate figures showed that euro zone industrial production increased 0.3% in June from May when output had fallen 0.4%. Over a year, industrial output also rose 0.3%. The figures were slightly lower than analysts had forecast.
