Euro Zone - Inflation at 9.1 percent - Economy

Inflation in the euro zone continued to accelerate in August, reaching a record level. Compared to the same month last year, consumer prices increased by 9.1 percent, according to a second estimate from the statistics office Eurostat. The August rate is the highest since the euro was introduced as book money in 1999. In the previous month, consumer prices had risen by 8.9 percent. Inflation was again driven by the sharp increase in energy prices, which rose by 38.6 percent compared to the same month last year. However, the increase was a little weaker than in the previous month. On the other hand, the rise in prices for food and beverages accelerated, increasing by 10.6 percent compared to the previous year. The three Baltic states again had the highest inflation rates in the currency area at more than 20 percent. The annual inflation rate in Estonia rose to 25.2 percent. In Germany, the inflation rate calculated according to European standards was 8.8 percent. At 6.6 percent, France has the lowest inflation rate in the euro zone.

Source link