Eurozone Inflation Slows to 2.2% in August

The Eurozone's annual inflation rate dropped to 2.2% from 2.6% in August compared to the previous month, as expected. This decrease marks the slowest rise in consumer prices since July 2021, based on a preliminary estimate.

A closer look at inflation components reveals that services are projected to record the highest annual rate for August at 4.2%, up from 4.0% in July.  This estimation is followed by food, alcohol, and tobacco at 2.4%, slightly higher than 2.3% in July. Non-energy industrial goods are expected to have an annual rate of 0.4%, down from 0.7% in July, while energy is predicted to see a decline of -3.0%, reversing from a 1.2% increase in July.