Eurostat Statistics Office Reports Eurozone Inflation Figures

The European statistical office Eurostat reports on Tuesday figures on inflation in the eurozone in the month of August.

 

Inflation is being watched with interest in the financial markets. If it rises sharply, the European Central Bank (ECB) may be inclined to reduce the corona support measures and raise interest rates sooner.

In July, inflation in the euro area stood at 2.2 percent on an annual basis. Higher fuel prices, in particular, are driving inflation. But foodstuffs and stimulants also became more expensive, as did certain services.

Due to the easing of the corona measures, the demand for services is increasing, which is pushing prices. Higher inflation can undermine consumers’ purchasing power.

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