Eurozone’s annual inflation rate drops below zero in August
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    Eurozone’s annual inflation rate drops below zero in August

    Credit: Belga

    The eurozone’s annual inflation dropped below zero in August, according to a flash estimate by Eurostat, the EU’s statistical office.

    Inflation was estimated to be at -0.2% in August, down from 0.4% in July. Belgium saw its inflation drop to -0.9%, according to Eurostat.

    The annual inflation rate for August is influenced by the fact that multiple countries pushed back their sales periods to August, Eurostat pointed out. Belgium was one of those countries.

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    The food, alcohol and tobacco component is expected to have the highest annual inflation rate in August, at 1.7%, compared with 2.0% in July.

    They are followed by services (0.7%, compared with 0.9% in July), industrial goods excluding energy (-0.1%, compared with 1.6% in July) and energy (7.8%, compared with -8.4% in July).

    The Brussels Times