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Financial News: Eurozone Inflation At 4-Month High

Eurozone Inflation At 4-Month High

09/18/2017 - 05:17:00 (RTTNews)

(RTTNews) - Eurozone inflation climbed to a four-month high in August, as initially estimated, final data from Eurostat showed Monday.

Consumer prices advanced 1.5 percent year-on-year in August, faster than the 1.3 percent increase seen in July. This was the highest since April and in line with the estimate published on August 31.

Nonetheless, inflation continues to stay well below the European Central Bank's target of 'below, but close to 2 percent'.

On a monthly basis, consumer prices rose 0.3 percent in August.

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

Among components, food, alcohol and tobacco prices increased by 1.4 percent for a third month. Likewise, services cost climbed 1.6 percent for a third time.

At the same time, non-energy industrial goods prices gained 0.5 percent, the same as in July. Energy price inflation advanced to 4 percent from 2.2 percent.

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