Spain once again led the four main economies of the eurozone in terms of inflation in July. The harmonized rate rose to 3.9%, three tenths more than the previous month, according to definitive data published this Wednesday by Eurostat.
The Spanish increase contrasts with the evolution recorded in the rest of the large euro economies. Italy was the only one of the four that managed to reduce its inflation, to 2.9%, one tenth less than in June. On the contrary, Germany raised its rate four tenths, to 2.8%, while France experienced an increase of the same magnitude and closed July at 2.4%.
In this way, Spain remains the country with the highest inflation among this group of large economies. In addition, July's performance represents a change from the previous month: in June, Spain had been the only one of the four that failed to moderate its rate, while in July, Italy was the only one that registered a decrease.
The rebound in prices was also reflected in the single currency as a whole. The annual inflation of the eurozone increased one tenth in July, to 2.9%, compared to 2.8% in June. The figure is also above that recorded a year earlier, when the rate stood at 2%.
The same trend was observed in the European Union as a whole. Annual inflation went from 2.9% to 3% in July, also one tenth more than in June and six tenths above the July 2025 figure, when it stood at 2.4%.
By country, the highest inflation rates were recorded in Romania, with 8.2%; Lithuania, with 5.4%; and Cyprus and Bulgaria, both with 4.4%. At the opposite extreme were Sweden, with 0.3%; Czechia, with 1.3%; and Denmark and Hungary, both with 1.6%.
In monthly terms, the evolution was uneven within the EU: fifteen Member States reduced their inflation compared to June, three maintained the same rate and nine registered an increase.
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