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Financial News: Eurozone Inflation Slows In July As Expected

Eurozone Inflation Slows In July As Expected

07/31/2019 - 05:17:00 (RTTNews)

(RTTNews) - Eurozone consumer price inflation slowed in July, after rising in the previous month, flash estimates from Eurostat showed on Wednesday.

Headline inflation eased to 1.1 percent from 1.3 percent in June. The slowing was in line with economists' expectations.

Core inflation, which strips out the volatile energy, food, alcohol & tobacco prices, slowed to 0.9 percent from 1.1 percent. Economists had forecast 1 percent.

In May, inflation was 1.2 percent and the core figure was 0.8 percent.

Among the main components of inflation, the food, alcohol & tobacco group had the highest annual rate in July, 2 percent versus 1.6 percent in June.

The increase in services costs slowed to 1.2 percent from 1.6 percent. Energy inflation more than halved to 0.6 percent from 1.7 percent. Meanwhile, price growth in non-energy industrial goods group climbed to 0.4 percent from 0.3 percent.

Eurostat is set to release full data for July inflation on August 19.

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