Financial News: Eurozone Inflation Confirmed At 2.2%

Eurozone Inflation Confirmed At 2.2%

09/18/2024 - 07:03:00 (RTTNews)

(RTTNews) - Eurozone inflation slowed in August, as initially estimated, revised data from Eurostat showed on Wednesday.

The harmonized index of consumer prices rose 2.2 percent on a yearly basis in August, slower than July's 2.6 percent increase. The rate matched the flash estimate published on August 30.

Excluding prices of energy, food, alcohol and tobacco, core inflation slowed only marginally to 2.8 percent, as initially estimated, from 2.9 percent.

On a monthly basis, the HICP edged up 0.1 percent, which was revised down from the flash estimate of 0.2 percent.

Among main components of HICP, services showed the highest annual growth of 4.1 percent. Food, alcohol and tobacco prices rose at a steady pace of 2.3 percent.

Non-energy industrial goods prices moved up only 0.4 percent. Meanwhile, energy prices fell 3.0 percent, marking the first drop in four months.

Inflation in the EU27 moderated to 2.4 percent in August from 2.8 percent in July. The lowest annual rates were registered in Lithuania, Latvia, Ireland, Slovenia and Finland. Meanwhile, Romania, Belgium and Poland logged the highest annual rates.

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