FX.co ★ Core Euro Zone Inflation Stalls as HICP ex Energy and Food Holds at 0.2% in August

The Euro Zone’s core inflation gauge, HICP excluding energy and food, was unchanged in August 2026 on a month-over-month basis, coming in at 0.2%. This matches the previous month’s change of 0.2%, signaling a pause in momentum rather than an acceleration or cooling in underlying price pressures.

According to data updated on 17 September 2026, the current 0.2% reading for August represents the same pace of monthly growth as recorded in the prior comparison period, where the indicator also rose 0.2% compared with the month before. The month-over-month framework compares price changes in August to July, while the “previous” figure reflects July’s change relative to June.

With the core HICP — a key barometer watched closely for underlying inflation trends — effectively flatlining at the same growth rate two months in a row, markets and policymakers will be looking to upcoming releases for clearer signals on whether core price dynamics in the Euro Zone are stabilizing, re-accelerating, or beginning to ease.