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Eurozone inflation falls to 1 per cent in July, well below target
2019-08-19 09:02:17.710 GMT

Eurozone inflation falls to 1 per cent in July, well below target

Luxembourg (DPA) — The annual rate of inflation across the
eurozone fell to 1 per cent in July, according to a revised
estimate released by the European Union's statistics agency
Eurostat on Monday.
This takes year-on-year inflation down 0.3 percentage points from
June, moving away from the European Central Bank's (ECB) target
of just below 2 per cent for the 19-member currency bloc.
The figure revises downward an earlier estimate that had put the
annual increase in the cost of living at 1.1 per cent for July.
Excluding the more volatile sectors of energy, food, alcohol and
tobacco, Eurostat's July inflation rate was 0.9 per cent,
compared to 1.1 per cent in June.
At the end of 2018, the ECB phased out an emergency stimulus plan
it introduced in 2015 to fire up economic growth and boost
inflation in the wake of Europe's financial crisis.
In recent months, however, sluggish growth and below-target
inflation have become renewed concerns.
Last month, ECB chief Mario Draghi signalled he would introduce
fresh stimulus to head off the threat posed to the eurozone
economy by ultra-low inflation and a slowing global economy.

-0- Aug/19/2019 09:02 GMT