Eurozone Inflation Stable in July

Inflation in the 19 countries sharing the euro currency remained stable in July, European statistics office Eurostat said on Thursday, but the much watched core inflation metric excluding volatile energy costs and unprocessed food rose.

Eurostat confirmed its earlier flash estimate of annual inflation in the euro zone at 1.3 percent, with price rises excluding energy and unprocessed food, a metric closely followed by the European Central Bank in setting monetary policy, also confirmed at 1.3 percent.

While price rises are still below the ECB’s target of close to but below 2 percent per year, core inflation has increased from 1.2 percent in June and came in above analyst estimates of 1.2 percent in a poll of 29 economists conducted by Reuters.

Reuters

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.