The latest eurozone inflation figures released on Thursday showed a stable picture for core inflation in July, which remained unchanged at 1.3% and at 1.5% for the wider European Union.
The figures were in line with economists expectations.
Inflation tells you how much goods and services cost in an economy and any rise is a corresponding fall in the value of how much your currency can purchase.
Since June, across Europe four countries saw a drop in annual inflation and 16 saw an increase. Ireland (-0.2%) was among the countries with the lowest annual rates and the UK was among countries with the highest increase at 2.6%.
Inflation has been creeping upwards, albeit slowly, and the single biggest impact in July was accomodation services, which has averaged around 1.6% since April.
Claus Vistesen, chief eurozone economist at Pantheon Macroeconomics said he didn't expect to see it letting up for another six months.
Further pressure, he said, would come from the non-energy goods sector to push the core rate higher.
He added: "We have to keep a watchful eye on producer price inflation, which tends to lead the CPI index by about six months. It has rolled over recently, but continues to signal higher goods CPI inflation."
What does it mean to the ECB?
Fruit, vegetables and telecoms exerted the most downward pressure on inflation for the month of July. However, Vistensen expected food and energy inflation was likely to stay stable for the rest of the year if oil prices stay around $45 a barrel.
In the most recent ECB bulletin in early August the central bank noted that "underlying inflation remain low and had yet to show convincing signs of a pick-up, as domestic cost pressures, including wage growth, are still subdued. Underlying inflation in the euro area is expected to rise only gradually over the medium term".
Vistensen said he remained certain that with the euro-dollar exchange rate between $1.15 and $1.20, the central bank was likely to downgrade its core inflation forecast further in September.
This, he added, was unlikely to fit the conditions for a big decision on quantitative easing that month.