Inflation in the eurozone in August reached a record 9.1%

According to the Statistical Office of the European Union, consumer prices in the eurozone increased by 9.1% in annual terms in August. In July, the price increase was 8.9%, so inflation accelerated again and updated the maximum since the beginning of calculations. 

The fresh indicator exceeded the forecasts of analysts who expected less significant growth – by 9%. Inflation exceeds the European Central Bank's target of 2% by more than four times.

The CPI index (consumer prices excluding food and energy) in August increased by 4.3% year-on-year compared with 4% in July.

Energy resources increased in price by 38.3% compared to August last year, but the growth rate slowed down slightly compared to the rise of 39.6% a month earlier. Food, alcohol and tobacco rose by 10.6% (by 9.8% in July), industrial goods – by 5% (by 4.5%), services – by 3.8% (by 3.7%).

On a monthly basis, consumer prices increased by 0.5% in August. In July, this indicator increased by 0.1%.