BRUSSELS, July 31 (Xinhua) -- Eurozone annual inflation in July held steady at 1.3 percent, but the core inflation rose to the highest level in four years, a flash estimate released by Eurostat showed on Monday.
According to the European Union (EU) statistics agency, the eurozone's annual inflation rose by 1.3 percent, the same pace as in June.
Looking at the main components of the inflation, energy is expected to have the highest annual rate, at 2.2 percent in July, followed by services at 1.5 percent.
Economists said the annual inflation is unlikely to rise above 1.5 percent this year.
Although the annual inflation is far below the central bank's target rate of 2.0 percent, the core inflation, which excludes volatile food and energy prices, ticked up to 1.3 percent from 1.2 percent in June. It was the highest reading since August 2013.
Core inflation is likely to ease the pressure on the European Central Bank (ECB) as it considers scaling back its stimulus program. The ECB is due to decide this autumn whether to extend its quantitative easing program into 2018.
