(Alliance News) - Eurozone consumer price inflation was hotter-than-expected in July, but remained within the European Central Bank's target, numbers on Friday showed.

According to a Eurostat estimate, the annual consumer price inflation rate was stable at 2.0% in July, the same as in June. It had been expected to cool to 1.9%, according to FXStreet cited consensus.

The ECB has a 2% inflation target.

Food, alcohol & tobacco prices rose 3.3% annually in July, picking up speed from a 3.1% rise in June. The pace of the energy price decline eased fractionally to 2.5% from 2.6%.

On-month, consumer prices were flat in July, after rising 0.3% in June from May.

Excluding energy, food, alcohol & tobacco, annual core consumer price inflation was similarly more robust than expected. Core consumer price inflation was 2.3% in July, in line with June. However, a slowdown to 2.2% was expected, according to FXStreet.

By Eric Cunha, Alliance News news editor

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