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Financial News: Eurozone Inflation Rises As Estimated In July

Eurozone Inflation Rises As Estimated In July

08/17/2018 - 05:30:00 (RTTNews)

(RTTNews) - Eurozone inflation accelerated for a third straight month in July, as initially estimated, to its highest level since late 2012, final data from Eurostat showed Friday.

The harmonized index of consumer prices rose 2.1 percent year-on-year in July, after climbing 2 percent in June. The rate came in line with the estimate published on July 31.

The latest inflation figure was the highest since December 2012.

Thus, inflation has exceeded the European Central Bank's target of "below, but close to 2 percent" for a second month in a row.

Core inflation, excluding energy, food, alcohol and tobacco, accelerated to 1.1 percent in July, as estimated, from 0.9 percent in June.

On a monthly basis, the HICP slid 0.2 percent and core prices dropped 0.5 percent in July.

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