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Financial News: Eurozone Inflation Rises As Estimated In July

Eurozone Inflation Rises As Estimated In July

08/19/2020 - 05:07:00 (RTTNews)

(RTTNews) - Eurozone inflation rose marginally in July, as initially estimated, final data from Eurostat revealed Wednesday.

Inflation rose to 0.4 percent from 0.3 percent in June. The rate matched the estimate released on July 31.

Headline inflation continued to remain well below the European Central Bank's target of "below, but close to 2 percent."

On a monthly basis, the harmonized index of consumer prices was down 0.3 percent, as estimated.

Core inflation that excludes energy, food, alcohol and beverages, accelerated to 1.2 percent from 0.8 percent in June. The rate came in line with preliminary estimate.

Among components of the harmonized index of consumer prices, only energy prices logged an annual fall in July, down 8.4 percent.

Prices of food, alcohol and tobacco advanced 2 percent and that of non-energy industrial goods gained 1.6 percent. At the same time, services costs rose 0.9 percent in July.

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