ZURICH (MaceNews) – Inflation in the Eurozone rose to 3.0 percent in August, led by double-digit
growth in energy costs, according to the latest report from Eurostat.
Today’s result confirmed the flash estimate released previously and is faster than the 2.2 percent
annual rate registered in July. Inflation has risen consistently over the past twelve months; a year
ago, the inflation rate as measured by HICP was -0.2 percent on a yearly basis.
Energy costs, without which inflation would have risen 1.7 percent in August, were 15.4 percent
higher than a year ago and contributed 1.44 points to the overall increase.
Today’s result was in-line with the 3.0 percent median of an Econoday survey of economists’
forecasts.
Annual changes among major components in August:
Food, alcohol and tobacco: +2.0% Y/y
Processed food, alcohol and tobacco: +1.7% Y/y
Unprocessed food: +3.0% Y/y
Energy: +15.4% Y/y
Non-energy industrial goods: +2.6% Y/y
Services: +1.1% Y/y
Annual changes by major economies in August:
Germany: +3.4% Y/y
Spain: +3.3% Y/y
France: +2.4% Y/y
Netherlands: +2.7% Y/y
Italy: +2.5% Y/y
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