Annual inflation in Cyprus is expected to drop to 2.6% in July 2024 from 3.0% in June, according to a flash estimate from Eurostat, the statistical office of the European Union. Meanwhile, eurozone annual inflation is expected to be 2.6% this July, up from 2.5% the month before. A year ago, in July 2023, annual inflation stood at 2.4% in Cyprus and at 5.3% in the eurozone. According to Eurostat estimates, the highest annual inflation rates in the eurozone in July 2023 were expected in Belgium (5.5%, up from 5.4% last month and 1.7% a year ago), Estonia (3.5%, up from 2.8% last month and 6.2% a year ago) and the Netherlands (3.5%, up from 3.4% last month and 5.3% a year ago). The lowest annual inflation rates in the eurozone in July 2023 are expected in Finland (0.6%, down from 0.5% last month and 4.2% last year), Latvia (0.8%, down from 1.5% last month and 6.6% last year) and Lithuania (1.1%, down from 1.0% last month and 7.2% last year). Looking at the main components of eurozone inflation, services is expected to have the highest annual rate in July (4.0%, compared with 4.1% in June), followed by food, alcohol and tobacco (2.3%, compared with 2.4% in June), energy (1.3%, compared with 0.2% in June) and non-energy industrial goods (0.8%, compared with 0.7% in June). Source: Cyprus News Agency