The data published last week by EUROSTAT confirmed that the annual inflation rate in the euro area was above the ECB's target in July (2.1% v. 2%) for the first time since December 2012.

1. EUROZONE INFLATION (YOY – JULY) : +2,1%
 The data published last week by
EUROSTAT confirmed that the
annual inflation rate in the euro area
was above the ECB's target in July
(2.1% v. 2%) for the first time since
December 2012.
Source : Eurostat

2. EUROZONE INFLATION (YOY – JULY) : +2,1%
 Inflation divergence between Member
States is at an historically low level: the
standard deviation between national
HICPs reached its lowest value in 11
years.
Source : Eurostat

3. EUROZONE INFLATION (YOY – JULY) : +2,1%
 However, this acceleration of inflation
since a few months could be short-lived
as it has been pushed by volatiles
elements such as energy prices. The
core-inflation index (overall index
excluding energy, food, alcohol and
tobacco) has remained stable around
1% - well below the ECB’s inflation
target. The ECB is currently
forecasting an HICP at 1.7% in 2018
and a the long-term (five years ahead)
inflation rate at 1.9%
Source : Eurostat