Eurozone final CPI rises 0.1% m/m in August, misses estimates, EUR unfazed
According to Eurostat’s final reading of the Eurozone CPI report, the consumer prices came in at +1.0% on a yearly basis, missing the flash estimate of +1.0%. While the core figures rose 0.9% versus 0.9% previous.
On a monthly basis, the bloc’s CPI figure for August rose 0.1% versus +0.2% expectations and +0.6% previous. while the core CPI numbers arrived at +0.2% versus +0.2% expected and -0.6% last.
Key Details (via Eurostat):
“The lowest annual rates were registered in Portugal (-0.1%), Greece (0.1%) and Spain (0.4%). The highest annual rates were recorded in Romania (4.1%), Hungary (3.2%), the Netherlands and Latvia (both 3.1%). Compared with July, annual inflation fell in nine Member States, remained stable in six and rose in twelve.
In August, the highest contribution to the annual euro area inflation rate came from services (+0.60 percentage points, pp), followed by food, alcohol & tobacco (+0.40 pp), non-energy industrial goods (+0.08 pp) and energy (-0.06 pp).”
The mixed Eurozone inflation data boosted the EUR bears, as the shared currency extends its gradual decline below 1.1050 vs. the greenback.
Author
Dhwani Mehta
FXStreet
Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.
