Inflation for Eurozone Hits High of 9.1% in August

Eurostat, the statistical office of the European Union, estimates in its latest flash report that the Euro area’s annual inflation rate climbed to 9.1 percent in August 2022, up from 8.9 percent in July.

Among the key components driving inflation, energy costs contributed most (38.3 percent), followed by food, alcohol and tobacco (10.6 percent, compared with 9.8 percent in July), non-energy industrial goods (5.0 percent, compared with 4.5 percent in July) and services (3.8 percent, compared with 3.7 percent in July).

Eurostat’s consumer price index that measures inflation for Europe, the EU and Member States is released in the middle of each month. The next release with full data for August 2022 is scheduled for Sept. 16.

The full Eurostat flash report can be read here.