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Eurozone inflation falls to a five-year low

Inflation in the Eurozone has fallen to a five-year low. Consumer prices in the 18 countries that...
Newstalk
Newstalk

15.27 29 Aug 2014


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Eurozone inflation falls to a...

Eurozone inflation falls to a five-year low

Newstalk
Newstalk

15.27 29 Aug 2014


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Inflation in the Eurozone has fallen to a five-year low. Consumer prices in the 18 countries that use the currency rose by just 0.3% year-on-year in August.

Inflation has now been below 1% for over a year.

Eurostat says the services sector is expected to have the highest annual rate in August (1.2%, compared with 1.3% in July), followed by non-energy industrial goods, food, alcohol and tobacco and energy.

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Unemployment remains unchanged at 11.5%, meaning more than 18 million people are out of work.

Among the EU member states, the lowest unemployment rates were seen in Germany and Austria (both 4.9%), with the highest in Greece (27.2% in May 2014) and Spain (24.5%).

The largest decreases were registered in Hungary (10.4% to 8.1% between June 2013 and June 2014), Portugal (16.3% to 14.0%), Croatia (18.1% to 16.2%), Spain (26.2% to 24.5%) and  Ireland (13.1% to 11.5%).

The only increases were recorded in Finland (8.1% to 8.7%), Italy (12.1% to 12.6%) and Luxembourg (5.9% to 6.3%).

The unemployment rate fell in 22 states compared with a year ago, increased in three and remained stable in three others.


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