Euro zone inflation, August 2024

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Euro zone inflation, August 2024

A woman takes a selfie photo, with the Eiffel Tower in the background, at Surcouf street in Paris, on July 23, 2024, ahead of the Paris 2024 Olympic Games. 

Mauro Pimentel | Afp | Getty Images

Euro zone inflation dropped to a three-year low of 2.2% in August, flash figures from statistics agency Eurostat showed on Friday.

The decline from 2.6% in July was in-line with the forecast of economists polled by Reuters.

The core rate — excluding the more volatile components of energy, food, alcohol and tobacco — fell to 2.8% in August from 2.9% in July, also matching a Reuters poll.

It come after price rises in Germany, the euro area’s biggest economy, cooled more than expected to 2% for the month, on a euro zone harmonized basis.

Economists at ING expect euro zone core inflation to remain stubbornly above 2.5% for the rest of the year amid stickiness in goods and services.

As of Thursday, markets expect the ********* Central Bank to cut interest rates by another 25 basis points in for September, after the institution made its first trim in June.

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