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Consumer price inflation in the euro area weakened in August, and to a larger extent than economists had forecast, latest data showed Friday.
Inflation as per the harmonized index of consumer prices (HICP) slowed to 1.3 percent, after staying unchanged at 1.6 percent in July, preliminary estimated published by statistical office Eurostat revealed. Economists had forecast inflation to ease to 1.4 percent.
The deceleration was driven mainly by a 0.4 percent fall in energy prices. Non-energy prices, meanwhile, increased 0.3 percent annually. Costs of food, alcohol and tobacco were higher by 3.3 percent than in August 2012.
Core inflation, excluding energy, food, alcohol and tobacco, stayed unchanged at 1.1 percent in August. The outcome matched economists' forecast.
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