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Inflation and unemployment in the Eurozone have stabilized

translated by Cosmin Ghidoveanu
Ziarul BURSA #English Section /

Inflation and unemployment in the Eurozone have stabilized

The annual inflation rate in the Eurozone has remained stable in August compared to July, at 0.2%, according to a preliminary estimate published on Wednesday by the European Statistics Office (Eurostat).

According to Eurostat, in the month of August, the most significant price increases were seem in food, alcohol and cigarettes, which have posted an annual increase of 1.3%, compared to 1.4% in July, followed by services, which have seen an annual increase of 1.1%, compared to 1.2% seen in July. On the other hand, energy prices have seen an annual decrease of 5.7% in August, compared to a decline of 6.7% seen in July.

Eurostat had previously announced that in July, compared to June 2016, annual inflation dropped in nine EU member countries, has remained stable in seven countries and has increased in 12 states, including Romania, according to Agerpres.

Eurostat has also announced on Wednesday that in July 2016, compared to June 2016, the unemployment rate has remained stable at 10.1% in the Eurozone, while in the European Union the unemployment rate has remained stable at 8.6%.

Among the member states, the highest unemployment rates were seen in Greece, (23.5% in May 2016) and Spain (19.6%). On the opposite is Malta, with an unemployment rate of 3.9%, Czech Republic and Germany, both with 4.2%. Romania is below the EU average, with an unemployment rate of 6.1%. Compared to the situation in July 2015, the unemployment rate decreased in 24 member states, including Romania, has remained stable in Denmark and has increased in Estonia, Austria and Belgium.

In Romania's case, according to data notified by the National Statistics Institute, (INS), the annual inflation has remained in negative territory in July as well, at -0.8%, down from -0.7% in June. Calculated based on the harmonized consumer price index, the drop has been -0.3%, the INS states. The seasonally adjusted unemployment rate also stood at 6.1%, at the end of July, up 0.1 percentage points over the previous month (6%), according to the standards of the International Labor Bureau.

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