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Financial News: Eurozone Inflation Accelerates In August

Eurozone Inflation Accelerates In August

08/31/2017 - 05:11:00 (RTTNews)

(RTTNews) - Eurozone inflation climbed to a four-month high in August on energy prices, flash data from Eurostat showed Thursday.

Inflation accelerated to 1.5 percent in August from 1.3 percent in July. This was the highest since April and above the expected rate of 1.4 percent.

Nonetheless, inflation continues to stay below the ECB's target of 'below, but close to 2 percent'.

Core inflation that excludes energy, food, alcohol and tobacco, held steady at 1.2 percent in August.

The annual increase in food prices remained at 1.4 percent and that in non-energy industrial goods at 0.5 percent. Likewise, services costs rose again by 1.6 percent.

Meanwhile, growth in energy prices increased to 4 percent from 2.2 percent.

Eurostat is scheduled to issue full data for August on September 18.

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