Eurozone unemployment rate falls to 9.1%

Euro Has to Get by July Inflation Q2 Euro Zone GDP if Rally is to Continue

Eurozone unemployment rate falls to 9.1%

Inflation came in at 1.3 percent in July, the same rate as seen in June.

The European Central Bank wants inflation to be close to 2 percent, a level it estimates is healthiest for the economy. In Spain, the rate fell to 17.1 percent from 17.3 percent.

Energy prices rose at a faster pace of 2.2% after climbing 1.9%. Food, alcohol and tobacco costs remained stable at 1.4 per cent, the same rate as in the previous month.

Economists say inflation is unlikely to rise substantially as long as there remains slack in the labor market that prevents wages from rising significantly.

Eurozone inflation stabilised in July, according to a preliminary estimate from the region's statistics office, but a modest increase in core consumer prices could signal a slow turnaround in the region's inflation outlook. The readings have kept ECB President Mario Draghi from signalling a retreat from the Bank's extraordinary stimulus, which includes negative interest rates on its deposit facility, €60 billion a month in government, corporate and agency bond purchases and billions more in liquidity support to the region's lenders.

Altre Notizie