The annualized Eurozone Consumer Price Index (CPI) came in at 3.0% in August, beating expectations of 2.7% while rising from June’s reading of 2.2%, the latest data published by Eurostat showed on Tuesday.
The core figures jumped by 1.6% YoY in August when compared to 1.5% expectations and 0.7% recorded previously.
Key details (via Eurostat)
“Looking at the main components of euro area inflation, energy is expected to have the highest annual rate in August (15.4%, compared with 14.3% in July), followed by non-energy industrial goods (2.7%, compared with 0.7% in July), food, alcohol & tobacco (2.0%, compared with 1.6% in July) and services (1.1%, compared with 0.9% in July).”
EUR/USD reaction
EUR/USD is holding the higher ground at 1.1825 on the Eurozone economic data, adding 0.25% on the day. Ahead of the CPI release, the main currency pair hit fresh four-week highs at 1.1832.