Eurozone CPI was unchanged at 1.0% yoy in August, matched expectations. Core CPI was also unchanged at 0.9% yoy, missed expectation of 1.0% yoy. Looking at the components, food, alcohol & tobacco is expected to have the highest annual rate in August (2.1%, compared with 1.9% in July), followed by services (1.3%, compared with 1.2% in July), non-energy industrial goods (0.4%, stable compared with July) and energy (-0.6%, compared with 0.5% in July).
Eurozone unemployment rate was unchanged at 7.5% in July, matched expectations. It’s also the lowest rate recorded since July 2008. EU 28 unemployment was unchanged at 6.3%, also the lowest since 2000. Among the Member States, the lowest unemployment rates in July 2019 were recorded in Czechia (2.1%) and Germany (3.0%). The highest unemployment rates were observed in Greece (17.2% in May 2019) and Spain (13.9%).
