Inflation in Eurozone

Eurozone Harmonized Inflation (eop) | Economic News & Forecasts

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

2013  2014  2015  2016  2017  
Inflation Rate (HICP, annual variation in %, eop)0.9  -0.2  0.2  1.1  1.4  

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Eurozone Harmonized Inflation (eop) Chart

Euro Inflation
Note: Annual variation of consumer price index (CPI) in %.
Source: Eurostat and Met the why particular calculations.

Eurozone Facts

Exchange Rate1.180.65 %Sep 20
Stock Market1,188-0.52 %Sep 20

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