Eurozone inflation drops to 2.2% in August

Aided by fall in energy inflation

Inflation in the eurozone area is expected to have dropped to 2.2% in August, according to a flash estimate by Eurostat, the statistical office of the European Union.

The figure was 0.4 percentage points lower than the month prior, with several highly inflationary components down for the period. Energy linked inflation hit -3% in August, down from 1.2% the previous month, while non-energy industrial goods came in at 0.4% versus 0.7% in July. Services inflation however, was the largest overall contributor, with an uptick to 4.2% versus 4% in July, followed by food, alcohol and tobacco at 2.4%. City predicts higher UK inflation despite strongest economic growth since post-lockdown spike The figures supported ongoing calls that the European Cent...