Financial News: Eurozone Inflation Steady At 2% ECB Target

Eurozone Inflation Steady At 2% ECB Target

08/01/2025 - 10:00:00 (RTTNews)

(RTTNews) - Euro area consumer price inflation was unchanged at the European Central Bank's 2 percent target in July, easing the pressure for more easing.

The harmonized index of consumer prices increased 2.0 percent year-on-year in July, the same rate of increase as seen in June. Inflation was forecast to ease marginally to 1.9 percent.

Core inflation that excludes prices of energy, food, alcohol and tobacco also remained stable in July, at 2.3 percent.

Among main categories of HICP, prices of food, alcohol and tobacco registered a faster growth of 3.3 percent following a 3.1 percent rise. Growth in non-energy industrial goods prices increased to 0.8 percent from 0.5 percent.

Meanwhile, energy prices fell 2.5 percent after a 2.6 percent drop and services inflation eased to 3.1 percent from 3.3 percent.

In July, the ECB kept the deposit rate unchanged at 2.00 percent as policymakers assessed that prices pressures continued to ease. The bank had cut interest rates by a quarter basis points each in every rate-setting session since last September.

At the July press conference, ECB President Christine Lagarde emphasized that both the eurozone and the central bank are in a good place at the moment.

Steady inflation confirmed that the eurozone is in Lagarde's "good place" at the moment, ING economist Bert Colijn said. The economist expects inflation to remain around the 2 percent target for the months ahead.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

Croatia Inflation Accelerates For Third Month (02 min(s), 30 sec(s) ago)
(RTTNews) - Consumer price inflation in Croatia climbed for the third month in a row in July to it ...Full Story»

U.S. Construction Spending Unexpectedly Sees Further Downside In June (49 min(s), 30 sec(s) ago)
(RTTNews) - The Commerce Department released a report on Friday unexpectedly showing a continued d ...Full Story»

U.S. Consumer Sentiment Improves Marginally Less Than Previously Estimated In July (45 min(s), 30 sec(s) ago)
(RTTNews) - Revised data released by the University of Michigan on Friday showed consumer sentimen ...Full Story»

U.S. Manufacturing Index Unexpectedly Dips To Nine-Month Low In July (43 min(s), 30 sec(s) ago)
(RTTNews) - Manufacturing activity in the U.S. unexpectedly contracted at a slightly faster rate i ...Full Story»

Eurozone Inflation Steady At 2% ECB Target (56 min(s), 30 sec(s) ago)
(RTTNews) - Euro area consumer price inflation was unchanged at the European Central Bank's 2 ...Full Story»

U.S. Job Growth Misses Estimates In July, Previous Months' Numbers Revised Sharply Lower (48 min(s), 30 sec(s) ago)
(RTTNews) - Job growth in the U.S. fell well short of economist estimates in the month of July, ac ...Full Story»

UK Manufacturing Downturns Slows In July (35 min(s), 30 sec(s) ago)
(RTTNews) - The UK manufacturing downturn slowed in July as output contracted at a slower pace and ...Full Story»

U.S. Employment Rises Much Less Than Expected In July (34 min(s), 30 sec(s) ago)
(RTTNews) - Job growth in the U.S. fell well short of economist estimates in the month of July, ac ...Full Story»