An increase in rents and car-repair prices lifted eurozone inflation in August slightly higher than a first estimate, a small piece of good news for the European Central Bank but not one that radically changes the economic outlook.
Consumer inflation in the 18 countries sharing the euro rose 0.1 per cent month-on-month in August for a 0.4 per cent year-on-year increase, the EU’s statistics office Eurostat said yesterday, revising upwards its initial estimate, from August 29, of a 0.3 per cent annual gain.That leaves the inflation rate unchanged from July.
Eurostat said that rising rents, higher prices in cafes and restaurants and more expensive car repairs did the most to raise year-on-year inflation.