Inflation Rises Again Above 3 Percent in Eurozone
The central bank said that although this period of rising inflation may look similar to the inflation surge of 2021–22, its drivers are different.
Inflation in the eurozone has surpassed 3 percent again in August, reaching 3.3 percent, according to Eurostat’s flash estimate. This increase, driven primarily by energy costs linked to the Iran war, exceeds the European Central Bank’s 2 percent target. Energy recorded the highest annual rate at 14.3 percent, a notable jump from July.
- Eurozone inflation rose to 3.3% in August, up from 2.9% in July.
- Energy costs, influenced by the Iran war, are the main driver of the inflation surge.
- The current inflation rate exceeds the European Central Bank’s target of 2%.
- Energy’s annual inflation rate was 14.3% in August, compared to 10.3% in July.
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