Euro Area: Inflation ticks up in July

Euro Area Inflation July 2020

Euro Area: Inflation ticks up in July

Harmonized inflation inched up to 0.4% in July from June’s 0.3%, according to a second estimate released by Eurostat on 19 August. Inflation thus moved closer to the European Central Bank’s target rate of near, but under, 2.0%. July’s pick-up was due to a faster increase in prices for non-energy industrial goods as well as to a softer fall in energy prices. Meanwhile, price growth for services and for food, alcohol and tobacco moderated.

On a monthly basis, harmonized prices fell 0.4% in July, contrasting June’s 0.3% increase. Core inflation, which excludes volatile energy and unprocessed foods prices, rose to 1.3% from June’s 1.1%.

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