Inflation in Eurozone
Eurozone - Harmonized Inflation (end of period)
Inflation confirmed at 2.0% in August
According to complete data released by Eurostat on 17 September, harmonized inflation came in at 2.0% in August. The result was slightly below July’s 2.1%—the highest reading since February 2017—and matched the preliminary estimate. As a result, inflation now sits just above the European Central Bank’s target rate of near, but below, 2.0%.
The uptick in inflation was chiefly due to a jump in energy costs, on the back of higher global oil prices. In addition, prices for services also rose in August.
Annual average inflation ticked up to 1.6% from 1.5% in July. Meanwhile, core inflation edged down to 1.2% from July’s 1.3%. On a monthly basis, harmonized consumer prices rose 0.2%, contrasting July’s 0.3% fall.
Among the countries in the common-currency bloc, Estonia (3.5%), Slovakia (2.9%) and Latvia (2.8%) experienced the highest inflation. Meanwhile, Ireland and Greece (each at 0.9%) recorded the lowest inflation. Regarding the largest economies in the Eurozone, inflation was stable in France (2.6%) but fell in Spain (2.2%), Germany (1.9%) and Italy (1.6%).
Met the why particular Consensus Forecast participants see inflation in the Euro area averaging 1.6% in 2018. For 2019, panelists expect inflation to also average 1.6%.
Eurozone - Harmonized Inflation (eop) Data
|Inflation Rate (HICP, annual variation in %, eop)||0.9||-0.2||0.2||1.1||1.4|
5 years of economic forecasts for more than 30 economic indicators.
Eurozone Harmonized Inflation (eop) Chart
Source: Eurostat and Met the why particular calculations.
|Exchange Rate||1.18||0.65 %||Sep 20|
|Stock Market||1,188||-0.52 %||Sep 20|
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September 17, 2018
According to complete data released by Eurostat on 17 September, harmonized inflation came in at 2.0% in August.
September 13, 2018
The European Central Bank (ECB) delivered no surprises at its 13 September monetary policy meeting, leaving its main interest rates unchanged and reaffirming its commitment to winding down asset purchases related to its quantitative easing (QE) program by the end of the year.
September 12, 2018
Industrial output dropped in July, falling a seasonally-adjusted 0.8% over the previous month.
September 7, 2018
The third estimate of GDP for the second quarter released by Eurostat confirmed that soft momentum at the start of the year carried over into the second quarter.
August 31, 2018
According to data released by Eurostat, labor market conditions in the common currency bloc were largely unchanged in July.