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Inflation in the eurozone slowed to 5.2% in August


September, 19 2023
watermark Economic news

According to the final data from Eurostat, in August 2023, consumer prices in the eurozone increased by 5.2% year-on-year.


This is a slight decrease compared to inflation of 5.3% in July, but the current figure reached the lowest since January last year. 


Initial expectations assumed that inflation would remain at the level of July, so the current indicator came as a surprise to market participants. 


In August, energy prices decreased by 3.3% YoY, while in July a decrease of 6.1% was recorded. A slowdown in price growth was also seen in the categories of food, alcohol and tobacco products – up to 9.7% compared with 10.8% in July. Service sector inflation slowed to 5.5% from 5.6%.


Core inflation (CPI Core index, which excludes food and energy) remained at 5.3% in August, which is in line with expectations. In July, the CPI Core index rose by 5.5%.


On a monthly basis, prices rose by 0.5% in August, and not by 0.6%, as previously expected.


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Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.