Eurostat, the statistics office of the European Community, has published its “rapid estimate” for August 2006, according to which inflation on an annual basis in the Eurozone stands at 2.3%, a slight decrease over the 2.4% registered in July. The rapid estimate of inflation in the Eurozone is calculated on the basis of the consumer price index of the Monetary Union (IPCUM), preliminary information on almost all the commodities that make up the basket of consumption in each member state and forecasts about the trend in energy prices. Retail sales data for the 25-member EU and the individual member states are expected to be published on 15 September.
