Eurozone Inflation July 2017


Eurozone: Eurozone inflation stable in July

July 31, 2017

Harmonized inflation was unchanged in July, according to a flash estimate released by Eurostat on 31 July. Harmonized inflation was 1.3%, mirroring June’s reading and matching market expectations.

According to Eurostat, the main contributor to rising prices in July was higher prices for energy. In addition, prices for food, alcohol and tobacco rose notably, while a slight rise was recorded for prices for non-energy industrial goods. Core inflation inched up from 1.2% to 1.3% in July. Month-on-month price variations and a more detailed set of data will be provided on 17 August.

FocusEconomics Consensus Forecast participants see inflation in the Euro area averaging 1.6% in 2017, which is unchanged from last month’s forecast. For 2018, panelists expect inflation to average 1.5%.

Author: Angela Bouzanis, Senior Economist

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