EU Inflation at 1% for July 08/19 06:13
BRUSSELS (AP) -- Official figures show that inflation across the 19-country
eurozone was lower in July than anticipated, bolstering expectations that the
European Central Bank will provide another shot of stimulus to the single
currency bloc next month.
Eurostat said Monday that consumer prices across the eurozone were up 1% in
the year to July. That's down from the original estimate of 1.1% and means
inflation is further away from the ECB's goal of just below 2%.
The core rate, which strips out the volatile items of energy, food, alcohol
and tobacco, was even lower at 0.9%.
With growth faltering particularly in Germany, there are growing
expectations that the bank will announce another package of monetary stimulus
measures including a possible rate cut and bond purchases at its Sept. 12