Eurozone inflation falls to 2.4%

Inflation in the 12 nations that use the euro fell to 2.4% in July, the EU statistics agency Eurostat said today, revising downwards an earlier forecast of 2.5% for the month.

Year-on-year inflation hit a high for the year in May and June at 2.5%, fuelling the case for the European Central Bank to raise interest rates several times in recent months.