EuroZone Annual Inflation For July Shows Improvement
According to the Eurostat statistics agency, Eurozone inflation improved, with CPI growing 2.1% in July. The data added to ECB’s plan to end the asset purchase program gradually. Core inflation (excluding energy and food) rose at an annual rate of 1.1% from June’s 0.9%.
The European Central Bank’s President Mario Draghi expresses his optimism over the economic outlook: “While uncertainties, notably related to the global trade environment, remain prominent, the information available since our last monetary policy meeting indicates that the euro area economy is proceeding along a solid and broad-based growth path”.