FOREX TradingCharts.com

Financial News: Eurozone Inflation Near 10-Year High

Eurozone Inflation Near 10-Year High

08/31/2021 - 06:58:00 (RTTNews)

(RTTNews) - Eurozone inflation accelerated more-than-expected to a near 10-year high in August, flash data from Eurostat showed on Tuesday.

Inflation rose to 3 percent in August from 2.2 percent in July. This was the highest since November 2011 and also exceeded the European Central Bank's 2 percent target and economists' forecast of 2.7 percent.

Core inflation that excludes energy, food, alcohol and tobacco, advanced to 1.6 percent from 0.7 percent in July. The rate was forecast to rise to 1.5 percent.

The increase in inflation was primarily due to temporary forces that should fade next year, leaving headline and core inflation well below 2 percent by the end of 2022, Jack Allen-Reynolds, an economist at Capital Economics, said.

The economist said the headline rate will drop to about 2 percent in January then trend down throughout the year to end 2022 at around 1 percent.

Despite the jump in core inflation and the further rise in headline inflation, this is not set to sway the ECB towards a more hawkish stance ahead of the September meeting next week, Bert Colijn, an ING economist said.

The macro projections presented at next week's meeting will likely not have seen too much extra upward pressure yet, the economist added.

On a monthly basis, the harmonized index of consumer prices gained 0.4 percent in August, Eurostat data showed. Final data is due on September 17.

Among components of the harmonized index of consumer prices, energy showed the highest annual rate of 15.4 percent, followed by non-energy industrial goods with 2.7 percent increase.

Food, alcohol and tobacco prices gained 2.0 percent and services cost advanced 1.1 percent.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


U.S. Consumer Sentiment Rebounds Less Than Expected In September (05 hr(s), 42 min(s), 02 sec(s) ago)
(RTTNews) - Consumer sentiment in the U.S. has seen a modest improvement in September after fallin ...Full Story»

UK Inflation Expectations Rise In August: BoE/Kantar Survey (07 hr(s), 41 min(s), 02 sec(s) ago)
(RTTNews) - Britons' inflation expectations for the coming year increased in August, the lates ...Full Story»

Eurozone Current Account Surplus Remains Unchanged (08 hr(s), 15 min(s), 02 sec(s) ago)
(RTTNews) - The euro area current account surplus remained unchanged in July, data published by th ...Full Story»

UK Retail Sales Decline For Fourth Straight Month (08 hr(s), 31 min(s), 02 sec(s) ago)
(RTTNews) - UK retail sales declined for the fourth straight month in August, the longest stretch ...Full Story»

Malta HICP Inflation Rises In August (08 hr(s), 43 min(s), 02 sec(s) ago)
(RTTNews) - Malta's harmonized annual inflation increased mrginally in August, data from the N ...Full Story»

Eurozone Inflation Accelerates As Estimated In August (09 hr(s), 16 min(s), 02 sec(s) ago)
(RTTNews) - Eurozone inflation accelerated as initially estimated in August to a near decade high, ...Full Story»

Eurozone Construction Output Grows In July (10 hr(s), 13 min(s), 02 sec(s) ago)
(RTTNews) - Eurozone's construction output grew for the first time in four months in July, dat ...Full Story»

Poland Average Gross Wages Rise More Than Expected (10 hr(s), 31 min(s), 02 sec(s) ago)
(RTTNews) - Poland's average gross wages increased more than expected in August, data from Sta ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

U.S. Consumer Sentiment Rebounds Less Than Expected In September

09/17/2021 - 10:14 AM (RTTNews)
(RTTNews) - Consumer sentiment in the U.S. has seen a modest improvement in September after fallin ...Full Story>>

UK Inflation Expectations Rise In August: BoE/Kantar Survey

09/17/2021 - 08:15 AM (RTTNews)
(RTTNews) - Britons' inflation expectations for the coming year increased in August, the lates ...Full Story>>

Eurozone Current Account Surplus Remains Unchanged

09/17/2021 - 07:41 AM (RTTNews)
(RTTNews) - The euro area current account surplus remained unchanged in July, data published by th ...Full Story>>

UK Retail Sales Decline For Fourth Straight Month

09/17/2021 - 07:25 AM (RTTNews)
(RTTNews) - UK retail sales declined for the fourth straight month in August, the longest stretch ...Full Story>>

Malta HICP Inflation Rises In August

09/17/2021 - 07:13 AM (RTTNews)
(RTTNews) - Malta's harmonized annual inflation increased mrginally in August, data from the N ...Full Story>>

Do not sell my personal information

Copyright © 2021. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.