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Eurozone Inflation Stable in July

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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 Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
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