Euro area CPI inflation ebbs in July, but core prices stuck
By Alexander Bueso
Date: Monday 31 Jul 2023
(Sharecast News) - The cost of living in the single currency bloc ebbed in July, but so-called core inflation proved a tad sticky.
According to Eurostat, in seasonally adjusted terms, the annual rate of increase in the bloc's headline Consumer Price Index slipped from 5.5% for June to 5.3% in July, as was correctly anticipated by economists.
CPI in fact dipped at a month-on-month pace of 0.1%.
Core CPI also dipped by 0.1% on the month.
Nonetheless, in year-on-year terms, core CPI, which the ECB defines as consumer prices excluding those for energy, food, alcohol and tobacco, was up by 5.5%, the same as during the previous month.
Annual headline CPI fell back in France, Germany, Italy, Portugal and the Netherlands.
But in Spain it rebounded from 1.6% in June to 2.1% for July.
-- More to follow --
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