The core harmonised index of consumer prices came in at 2.9% year-on-year last month, in line with preliminary data released two weeks ago and matching the inflation rate of both May and June.

July's figure tied the second-lowest reading for core inflation – which excludes volatile items like food, energy, alcohol and tobacco – since February 2022.

In line with the preliminary data, core consumer prices actually fell 0.2% month-on-month.

Meanwhile, headline consumer-price inflation – which includes products with volatile price swings – increased to 2.6% year-on-year in July, from 2.5% previously, with prices unchanged month-on-month after a 0.2% increase in June.