Eurozone annual inflation is expected to be 1.9 per cent in July 2002, up from 1.8 per cent in June 2002, according to an estimate issued today by Eurostat.
The eurozone inflation is measured by the Monetary Union Index of Consumer Prices (MUICP).
To compute the MUICP flash estimates, Eurostat - the Statistical Office of the European Communities in Luxembourg - uses early price information relating to the reference month from member states for which data is available as well as early information about energy prices.
The estimation procedure for the MUICP flash estimate issued today combines historical information with partial information on price developments in the most recent months to give a total index for the eurozone.
No detailed breakdown is available, but simulations have shown the procedure to be reliable.
