Eurozone CPI Finalized at 3.2%, but Services and Core Pressures Ease - Action Forex

Eurozone annual CPI accelerated from 2.9% to 3.2% in August, while prices rose 0.4% m/m , according to Eurostat’s final estimate. The annual reading was revised below the preliminary estimate of 3.3%, while core inflation excluding energy, food, alcohol and tobacco eased from 2.5% to 2.4% . EU inflation also rose, from 3.0% to 3.2%. The headline acceleration was overwhelmingly energy-driven. Energy inflation jumped from 10.3% to 14.3% , lifting its contribution to the headline rate from 0.94 to 1.29 percentage points . In contrast, services inflation slowed from 3.3% to 3.0% , and food, alcohol and tobacco inflation edged down from 1.2% to 1.1%. Non-energy industrial goods inflation increased from 0.9% to 1.2%, but contributed only 0.30 points.