Friday, 29 July 2016

Eurozone Inflation Rises In July

In World Economy News 29/07/2016

Eurozone consumer prices increased for the second straight month in July, flash estimate from Eurostat showed Friday.
Consumer prices climbed 0.2 percent year-on-year, following a 0.1 percent rise in June. Prices were expected to rise again by 0.1 percent.
Headline inflation has been below the European Central Bank’s target of ‘below, but close to 2 percent’ since early 2013.
Core inflation that excludes energy, food, alcohol and tobacco held steady at 0.9 percent in July. Economists had forecast inflation to slow to 0.8 percent.
Energy prices logged a sharp 6.6 percent drop, while all other components of the harmonized index of consumer prices increased from prior year.
Food, alcohol and tobacco climbed 1.4 percent and non-energy industrial goods prices moved up 0.4 percent. Cost of services increased 1.2 percent from same period of last year.
The statistical office is set to release full data on August 18.

Source: RTT News