Consumer price growth in euro area confirmed at 1%

Wednesday, 18. September 2019 11:03

Eurostat, the European Union's statistical arm, said on Wednesday that annual inflation was widely stable last month and confirmed preliminary findings. The rate remained at 1% for the Eurozone and the update revealed the measure was at a flat 1.4% for the entire 28-member bloc. Services had the strongest positive contribution in the monetary union, 0.6 percentage points, against a slight impact, at 0.06 points, from the energy component.

The European Central Bank, which cut its deposit rate last week by 0.1 points to a negative 0.5%, targets consumer price growth of 2%. Portugal registered a 0.1% deflation but it eased by 0.6 points. Romania topped the chart with a flat 4.1% rate on the year.

Core inflation remained at 0.9% in the euro area and gained an unchanged 0.2% in August alone. Prices in the monetary union added 0.1%, surprising to the downside, while the advance in the EU was 0.2%. They dropped 0.5% and 0.3%, respectively, in the previous month.

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