Euro area inflation estimated at 5.3% in Aug 2023

04 Sep '23

1 min read

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Insights

The euro area's annual inflation rate is projected to hold steady at 5.3 per cent in August 2023, as per a flash estimate.
This rate is the same as that of July 2023 but down from 5.5 per cent in June 2023.
The main components contributing to inflation include non-energy industrial goods, which dropped slightly to 4.8 per cent in August 2023.

The euro area’s annual inflation is expected to be 5.3 per cent in August 2023, stable compared to July, as per a flash estimate from Eurostat.

Looking at the main components of euro area inflation, non-energy industrial goods were at 4.8 per cent, compared with 5.0 per cent in July and energy at -3.3 per cent, compared with -6.1 per cent in July, Eurostat, the statistical office of the European Union (EU) said in a press release.

The euro area’s annual inflation rate was 5.3 per cent in July 2023, down from 5.5 per cent in June. A year earlier, the rate was 8.9 per cent.

ALCHEMPro News Desk (NB)

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