Euro zone July trade surplus up, on rising exports, cheap energy

The number of employed persons increased by 0.1% in Latvia in the second quarter of 2015, compared to the previous quarter – the largest increase in the European Union, according to the latest data from the EU’s statistical bureau Eurostat, cites LETA.

FRANKFURT-Inflation across the eurozone unexpectedly weakened in August, a development likely to fuel speculation that the European Central Bank may have to expand its bond-buying program. The lowest annual rates were registered in Cyprus (-1.9%), Romania (-1.7%) and Lithuania (-1.0%).

Such a move could become necessary if inflation weren’t return to the ECB’s medium-term target, as now envisaged by the bank.

Core inflation, a measure that excludes volatile energy and unprocessed food prices, stood at 0.3 per cent month-on-month and 0.9 per cent year-on-year in August, the same as previously estimated and unchanged from July.

Earlier Wednesday, Reuters reported that ECB Vice President Vitor Constancio said the bank has scope to purchase more assets as its quantitative easing has been small compared to similar schemes elsewhere.

Eurostat said the seasonally unadjusted trade surplus of the 19 countries sharing the euro rose to 31.4 billion euros ($35.5 billion) in July from 21.2 billion a year earlier.

The USA was to release data on consumer inflation later Wednesday.