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Eurozone July annual inflation revised down

Eurozone annual inflation eased to 1.0% in July from a prior estimate of 1.1% and from 1.3% in June, data from Eurostat showed.

The latest reading came in below market expectations of 1.1%.

Core inflation, which excludes energy, food, alcohol and tobacco prices, eased to 0.9% from 1.1%.

Services prices growth dropped to 1.2% from 1.6% last month. Food, alcohol and tobacco prices climbed 1.9% in July from 1.6% in June, while energy prices dropped to 0.5% from 1.7%.

On a monthly basis, inflation in the bloc was negative 0.5% in July.