Covid-19: Euro area annual inflation down to -0.2% in August (Eurostat)

In August 2020, a month in which COVID-19 containment measures continued to be lifted, Euro area annual inflation is expected to be -0.2%, down from 0.4% in July according to a flash estimate from Eurostat, the statistical office of the European Union.

Looking at the main components of euro area inflation, food, alcohol & tobacco is expected to have the highest annual rate in August (1.7%, compared with 2.0% in July), followed by services (0.7%, compared with 0.9% in July), non-energy industrial goods (-0.1%, compared with 1.6% in July) and energy (-7.8%, compared with -8.4% in July).

Unemployment

In July 2020, a month marked by some relaxation of COVID-19 containment measures in many Member States, the euro area seasonally-adjusted unemployment rate was 7.9%, up from 7.7% in June 2020.

The EU unemployment rate was 7.2% in July 2020, up from 7.1% in June 2020. These figures are published today (1 September) by Eurostat, the statistical office of the European Union

Eurostat estimates that 15.184 million men and women in the EU, of whom 12.793 million in the euro area, were unemployed in July 2020. Compared with June 2020, the number of persons unemployed increased by 336 000 in

the EU and by 344 000 in the euro area.