Eurozone inflation drops again easing pressure on ECB

Price growth excluding food and energy, which is a measure monitored closely by the ECB, was flat at 5.5%.

Inflation in the eurozone slowed down to 5.3% during July, new figures from Eurostat show, easing pressure on the European Central Bank (ECB) to raise rates once again during its meeting next month. 

Annual inflation is down from 5.5% recorded in June and from the 8.9% recorded in July last year.