Eurozone inflation decreased to 5.3% in July from 5.5% in June, but remains significantly above the European Central Bank’s target of 2%, CNBC reports.
Core inflation, which excludes food and energy prices, disappointingly remained unchanged at 5.5%.
The euro area’s economy saw a pickup in the second quarter, with GDP expanding by 0.3%.
However, economists attribute the growth largely to one-off increases in France and Ireland.
