Eurozone inflation rate confirmed at 1.6 percent in August

22:31, September 15, 2010      

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Annual inflation in the Eurozone dropped to 1.6 percent from a 20-month high in the previous month, the European Union's (EU's) statistical bureau Eurostat said Wednesday.

The data was in line with the flash estimate made by Eurostat at the end of August.

According to the new data, transport fuel, heating oil and vegetables had the largest upward impacts on the headline rate, while garments and telecommunications had the biggest downward impacts.

For the 27-member EU, annual inflation was 2 percent in August, down from 2.1 percent in July.

Among the member states, the lowest annual rate in August was in Ireland, which was minus 1.2 percent. Romania registered the highest rate, which was 7.6 percent. Germany, the largest economy in the Eurozone, saw its consumer prices increasing by 1 percent in August.

The European Commission forecast on Monday that inflation would remain subdued in both the eurozone and the EU in 2010. It estimated the annual inflation rate in the EU would stand at 1.8 percent and 1.4 percent in the eurozone.

Source: Xinhua


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