Eurozone Inflation Revised Down To 2%

(RTTNews) - Eurozone consumer prices rose slightly less than initially estimated in August, final data published by Eurostat showed on Wednesday.

Consumer prices advanced 2.0 percent year-on-year, unchanged from the July's rate. However, the figure was revised down from 2.1 percent estimated on September 2.

The European Central Bank aims to keep inflation at 2 percent over the medium term.

Excluding prices of energy, food, alcohol and tobacco, core inflation remained unchanged at 2.3 percent. The rate also matched the preliminary estimate.

The highest contribution to the annual inflation came from services, which advanced 3.1 percent. Cost of food, alcohol and tobacco, rose at a pace of 3.2 percent and that of non-energy industrial goods gained 0.8 percent.

Meanwhile, prices of energy continued to fall but the pace of decline eased further. Prices slid 2.0 percent after a 2.4 percent decrease.

The harmonized index of consumer prices posted a monthly growth of 0.1 percent, which was revised down from 0.2 percent estimated previously.

Further, data showed that inflation in the EU27 also held steady at 2.4 percent in August.