The rise in prices for energy products (+39.7%) was the factor that most contributed to the acceleration of the inflation rate in the region. Even so, the year-on-year rise was lower than in June (42%).

With 9.4%, Portugal had the eighth smallest rise in prices in the euro area, although it was above the average for the single currency.

Estonia, Latvia and Lithuania had a price increase of more than 20% compared to the same month of 2021. The three countries share a border with Russia, on which they depend for the supply of gas.

Among the largest single currency countries, only Spain registered a higher price increase (10.8%) than Portugal. France, Italy and Germany had less expressive increases.

In the chain variation, Greece, Luxembourg, Italy, Belgium and Spain were the five countries in which prices fell between June and July.

Eurostat data will be confirmed on 18 August.