Euro area HICP inflation in August was revised down to 2.0% YoY from the initial estimate of 2.1% YoY, with monthly inflation revised down to 0.1% MoM from the initial estimate of 0.2% MoM, reflecting softer headline price pressures.

• Core inflation (ex energy, food, alcohol & tobacco) was confirmed at 2.3% YoY, after a 0.3% MoM increase.
• Services inflation eased slightly to 3.1% YoY (from 3.2% in July), with a +0.3% MoM gain keeping it the largest contributor to overall price pressures.
• Non-energy industrial goods rose 0.8% YoY and +0.3% MoM, indicating stable but modest goods price growth.
• Food, alcohol & tobacco inflation slowed to 3.2% YoY (from 3.3%) and was flat MoM, while processed food rose 2.6% YoY and +0.2% MoM.
• Unprocessed food inflation accelerated to 5.5% YoY (from 5.4%) despite a -0.4% MoM decline, underscoring volatility in fresh food prices.
• Energy prices fell -2.0% YoY and -0.7% MoM (vs flash estimate -1.9% YoY, -0.6% MoM), continuing to weigh on headline inflation.