Consumer prices were provisionally a little softer than expected in August. A 0.1 percent monthly rise left the annual inflation rate at 2.0 percent, in line with its final July outturn and just a couple of ticks short of its recent peak in May.
The flash HICP was slightly weaker, posting no change versus July and a 1.9 percent 12-month rate, down from 2.1 percent last time and its lowest print since April.
The flat yearly CPI inflation rate masked a 0.2 percentage point drop in services to 1.4 percent and a 0.1 percentage point dip in food to 2.5 percent. However, declines here were offset by another rise in energy from 6.6 percent to 6.9 percent. The rate for overall goods was 2.7 percent, up from 2.6 percent while rent, excluding utilities, was steady at 1.6 percent.
Today's German results make for some limited downside risk to August Eurozone inflation (flash report tomorrow) but the signs are that the key core measures should be broadly stable.