Eurozone Inflation Slows in August
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Eurozone inflation slowed slightly in August, final data from Eurostat showed on Tuesday. In August, inflation came in at 5.2%, down from 5.3% in July. Initially, the rate was seen unchanged at 5.3%, according to RTT News.
However, core inflation which excludes energy, food, alcohol, and tobacco, was confirmed at 5.3%. The core rate eased from 5.5% in July.
Among components of the harmonized index of consumer prices (HICP), energy prices dropped for the fourth straight month. Prices decreased 3.3%, slower than July's 6.1% fall.
Food, alcohol and tobacco prices climbed 9.7% after a 10.8% rise. Similarly, growth in non-energy industrial goods prices weakened to 4.7% from 5.%. Services cost was up 5.5%, which was weaker than July's 5.6% increase.
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