Core consumer prices in the Euro Zone edged lower in August 2026, as the Harmonised Index of Consumer Prices excluding energy and food (HICP ex Energy & Food) slowed to 2.1% year-over-year. The latest reading, published on 1 September 2026, compares with 2.2% in July 2026, confirming a modest but continued easing in underlying inflationary pressures.
The figures are based on year-over-year comparisons, with the August result measuring price changes against August a year earlier, and the July figure measured against the same month in the previous year. The slight decline in the core rate suggests that inflation in categories less affected by volatile energy and food prices is gradually moving lower, a development that will be closely watched by policymakers and markets for signals on the Euro Zone’s underlying price dynamics.