Eurozone Inflation July 2016


Eurozone: Consumer price pressures rise in July

July 29, 2016

Inflation continued to rise in July, although remains at weak levels. According to a flash estimate released by Eurostat on 29 July, harmonized inflation—measured by the harmonized index of consumer prices—tallied 0.2% in July. The result followed June’s 0.1% reading and was above market analysts’ expectations of 0.1%.

According to Eurostat, the main contributor to July’s reading was food, alcohol and tobacco. In addition, prices of services rose faster than in June. Core inflation remained stable at 0.8% in July. Month-on-month price variations and a more detailed set of data will be provided on 18 August.

FocusEconomics Consensus Forecast participants see inflation in the Euro area averaging 0.3% in 2016, which is unchanged from last month’s forecast. For 2017, panelists expect inflation to average 1.3%.

Author: Angela Bouzanis, Senior Economist

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