European Union - Meat prices stable

Consumer prices in the euro area (the economic and monetary union of 16 member states) rose to 1.7% per annum in July, the highest rate in 20 months, according to the European Index of Consumer Prices. However, the food price index rose by a slight 0.8% per annum, while meat prices remained stable.

Despite registering a rise, the price index is still lower than the European Central Bank's target of 2% per annum, and lower than the 2.1% per annum growth along the European Union (composed of 27 member states).
 
July's rise was driven by a rebound in energy costs, transport, alcohol and tobacco prices, in addition
to the Value Added Tax increases in Spain, Portugal, Greece and Finland.
 

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