Germany today revised a key measure of July inflation higher to prompt analysts to suggest that progress in taming eurozone price pressures may be slower than expected.
Federal Statistics Office data showed that the European Union harmonised annual inflation rate, boosted by surging oil and health costs, rose 0.4 per cent on the month for an annual increase of 2 per cent.
It originally reported prices rose by 0.2 per cent from the previous month and by 1.8 per cent from July 2003.
In June, the harmonised index was unchanged from the previous month and advanced 1.9 per cent from a year earlier.
Economists said the data suggested that preliminary figures showing euro zone inflation of 2.4 per cent for July, well above the European Central Bank's 2.0 per cent ceiling, may be revised down by less than previously expected.
