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Financial News: Eurozone Inflation Slows In August

Eurozone Inflation Slows In August

08/31/2018 - 05:15:00 (RTTNews)

(RTTNews) - Eurozone inflation moderated in August from a more than five-year high level, flash data from Eurostat revealed Friday.

Inflation eased to 2 percent from 2.1 percent in July. The annual rate was expected to remain at 2.1 percent, which was the highest since December 2012.

The European Central Bank's targets "below, but close to 2 percent" inflation.

Core inflation that excludes energy, food, alcohol and tobacco, slowed marginally to 1 percent from 1.1 percent a month ago.

Energy inflation dropped to 9.2 percent from 9.5 percent. The annual increase in food, alcohol and tobacco held steady at 2.5 percent.

Non-energy industrial goods prices rose at a slower pace of 0.3 percent after rising 0.5 percent. Similarly, services cost advanced 1.3 percent, following July's 1.4 percent increase.

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