A New Peak of Inflation in the Eurozone
According to preliminary estimates, annual inflation in the 19 countries accelerated to a record 9.1% in August. Foreign media publish the mentioned figures based on Eurostat. The rate of last month, July, was 8.9%. Thus, inflation in the Eurozone reached a historical high again.
Analysts polled by the portal DailyFX expected the inflation rate of the Eurozone to increase to only 9%. A year earlier, annual inflation in the Eurozone was only 3%.
Only in August of this year, consumer prices in the Eurozone, according to preliminary estimates, increased by 0.5%. Core annual inflation accelerated from 4% to 4.3%.
As a reminder, the Eurozone includes Belgium, Germany, Estonia, Ireland, Greece, Spain, France, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Austria, Portugal, Slovakia, Slovenia, and Finland. At the same time, at the end of August, the exchange rate of the euro is the lowest in the last 20 years.