Eurozone inflation should ease in coming months after price pressures stayed at multi-year lows in July, an indicator designed to predict cyclical trends showed on Friday.

The Eurozone Future Inflation Gauge (EZFIG), published by the Economic Cycle Research Institute, held steady in July at June's 40-month low of 91.4.

"Eurozone inflation is likely to remain in a cyclical downswing in the months ahead," said Lakshman Achuthan, ECRI's chief operations officer.

Preliminary official data last week showed inflation eased further last month, leaving the European Central Bank room to ease policy if needed.