Consumer prices in the Eurozone jumped by 3% in the year to August, the highest rate since late 2011, up from 2.2% in July.
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Eurostat’s final data, which confirms its ‘flash’ estimate, shows that energy costs are continuing to increase pressure on the cost of living. On a monthly basis, prices rose by 0.4%.
Energy prices were the biggest increase, up 15.4% over the last year, while unprocessed food prices rose by 3% per year. Industrial goods inflation increased to 2.6%.
In August, the highest contribution to the annual inflation rate in the Euro area came from energy (+1.44%), non-energy industrial goods (+0.65%), and food, alcohol, & tobacco and services (both at +0.43%).
Across the Eurozone area, Estonia, Lithuania, and Poland all saw the highest inflation rates, at 5% per year. The lowest annual rates were registered in Malta (0.4%), Greece (1.2%), and Portugal (1.3%).