Inflation rate exceeds 10% in the EU

The annual inflation rate in the European Union (EU) exceeded the 10% barrier in August, according to Eurostat, which confirms the rate of 9.1% for the euro zone.

According to data from the EU Statistical Service, the annual inflation rate – measured by the Harmonized Index of Consumer Prices (HICP) – in the 27th year stood at 10.1% in August, a value that compares with the 3.2% year on year and 9.8% in July.

In the euro area, Eurostat confirmed the estimate of 9.1%, compared to 3.0% in August 2021 and 8.9% in July.

Among the Member States, the lowest rates of inflation were recorded in France (6.6%), Malta (7.0%) and Finland (7.9%) and the highest were, in turn, observed in Estonia (25.2%), Latvia (21.4%) and Lithuania (21.1%).

In August, Portugal registered an inflation rate of 9.3%, compared to the 1.3% year-on-year rate and 9.4% in July.

In the chain variation, the annual inflation rate fell in 12 Member States and advanced in the other 15.

The annual inflation rate in the eurozone and the EU has been accelerating since June 2021, mainly due to rising energy prices, and reaching record levels since November.

Source Lusa