Eurozone Flash Inflation Revised Down to Reveal Slight Dip in August
19 September 2023
By Mariana Somensi – NICOSIA (Econostream) - Annual inflation in the euro area decreased to 5.2% in August, compared to 5.3% in July, whilst inflation excluding energy, food, alcohol and tobacco decreased to 5.3% from 5.5%, according to data released by Eurostat on Tuesday.
The headline reading was slightly lower than Eurostat's flash estimate of 5.3% for August. The core reading was unchanged from the initially reported figure.
Despite the significant decline in overall inflation in the euro area compared to the 9.1% recorded a year earlier, the European Central Bank stated last Thursday in hiking interest rates that inflation ‘is still expected to remain too high for too long’.