Singular Bank: According to Eurostat’s final reading, in August the year-on-year rate of change of the Eurozone’s headline CPI stood at 2.2% (versus 2.6% in July), representing its lowest level in three years. In a situation in which monthly prices grew at a faster pace of 0.1% (versus 0.0% in July).
This new advance in the disinflationary process was driven by the fall in energy prices of 3.0% with respect to August 2023 (versus +1.2% year-on-year in July), while the year-on-year change in food, alcohol and tobacco remained stable at 2.3%. In contrast, services prices rose by 4.1% year-on-year (versus 4.0% year-on-year in July), partly driven by the summer season.
Against this background, core inflation remained unchanged for the third consecutive month at 2.8% (versus 2.9% in July).
