Prices in eurozone steady in July

The annual inflation rate held at 1.6 percent in July in the 17-member eurozone, unchanged from June, but down sharply from July 2012, Eurostat said Friday. Eurostat confirmed the flash estimate released July 31 that showed a sharp decline from July 2012, when inflation stood at 2.4 percent. From June, prices were off 0.5 percent in the currency region, Eurostat said. In the 28-member European Union, which includes the July addition of Croatia to its ranks, the annual inflation rate in July stands at 1.7 percent, down from 2.5 percent a year earlier, Eurostat reported. Annual rates for the region range from 0.1 percent in Greece to 4.5 percent in Romania. In Germany and France, the region's two largest economies, annual inflation was posted at 1.9 percent and 1.4 percent, respectively.