Eurozone Inflation Down to 2 Percent in August

Luxembourg, Eurozone inflation fell to 2 percent in August, according to a flash estimate released Friday by the European Union's statistics agency, Eurostat.

That is a drop from 2.1 percent in July, and is close to the European Central Bank's annual inflation goal of just below 2 percent, dpa reported.

If the rate is adjusted to exclude the more volatile components of energy, food, tobacco, and alcohol, inflation rose only 1 percent. Energy prices jumped the most, by 9.2 percent, followed by a more modest increase in food, alcohol and tobacco prices of 2.5 percent. The cost of services and non-energy industrial goods rose slightly.

Source: Saudi Press Agency