August 31, 2018
BRUSSELS (Reuters) – Euro zone inflation fell to 2 percent, according to a first estimate from the EU’s statistics agency, in line with the European Central Bank’s target.
Inflation in the 19 countries sharing the euro zone is expected to be 2 percent in August from 2.1 percent in July, EU statistics office Eurostat said on Friday.
The figure was below the average expectation in a Reuters poll of an unchanged 2.1 percent rate.
Energy prices were 9.2 percent year-on-year compared with 9.5 percent in July.
Core inflation, which excludes energy costs as well as unprocessed food and which the European Central Bank looks at in policy decisions, was down to 1.2 percent year-on-year from 1.3 percent in July.
The ECB wants to keep headline inflation below, but close to, 2 percent over the medium term.
Eurostat’s flash estimate for the month does not include a monthly calculation.
Separately, Eurostat said the unemployment rate in the euro zone was 8.2 percent in July, down from 8.3 percent in June.
For details of Eurostat data click on:
https://ift.tt/27g1iJG
(Reporting by Philip Blenkinsop, Foo Yun Chee and Alissa de Carbonnel)
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