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Eurozone Posts 2.1 Percent Rise in August Inflation
(MENAFN) Inflation across the eurozone ticked slightly higher in August, reaching an annual rate of 2.1%, up from 2.0% in July, according to data released Tuesday by Eurostat.
The largest contributor to the uptick was the food, alcohol and tobacco category, which posted an estimated 3.2% annual increase. Close behind were services at 3.1%, while non-energy industrial goods saw a more modest rise of 0.8%.
Meanwhile, energy prices continued to drag overall inflation down, falling 1.9% year-on-year in August after a 2.4% decline in July.
Inflation varied sharply across member states. The highest annual rates were reported in Estonia (4.6%), Slovakia (4.3%), and Latvia (3.7%). On the opposite end of the spectrum, the Greek Cypriot Administration recorded the lowest rate at 0.4%, followed by France at 0.6% and Ireland at 1.4%.
Eurostat’s figures suggest inflation remains uneven across the bloc, with energy prices continuing to exert downward pressure while core categories maintain steady upward momentum.
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