Euro area annual inflation rises to new record high of 9.1% in August

Energy expected to have highest year-on-year rise of 38.3%, preliminary estimates show

Euro area annual consumer inflation jumped to a new record high of 9.1% in August, according to a flash estimate from the EU’s statistical office on Wednesday.

The figure was up from 8.9% in July, Eurostat data showed.

Energy is expected to have the highest year-on-year rise of 38.3% in August compared to 39.6% in July, it said in a statement.

It was followed by food, alcohol and tobacco (10.6% in August, up from 9.8% in July),non-energy industrial goods (5.0% in August, up from 4.5% in July) and services (3.8% in August, compared with 3.7% in July).

Meanwhile, core inflation, which excludes energy, food, alcohol, and tobacco, rose to 4.3% in August while it was 4% a month ago.

On a monthly basis, Eurozone’s consumer prices index rose 0.5% in August following a 0.1% increase in July.



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