Euro area annual inflation up to 9.1%

Euro area annual inflation is expected to be 9.1% in August 2022, up from 8.9% in July, according to a flash estimate from Eurostat, the statistical office of the European Union reveals 

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Euro area annual inflation is expected to be 9.1% in August 2022, up from 8.9% in July, according to a flash estimate from Eurostat, the statistical office of the European Union said.

Looking at the main components of euro area inflation, energy is expected to have the highest annual rate in August (38.3%, compared with 39.6% in July), followed by food, alcohol & tobacco (10.6%, compared with 9.8% in July), non-energy industrial goods (5.0%, compared with 4.5% in July) and services (3.8%, compared with 3.7% in July).

The euro area consists of Belgium, Germany, Estonia, Ireland, Greece, Spain, France, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Austria, Portugal, Slovenia, Slovakia and Finland.

The euro area data refer to the country composition at a specific point in time.

Changes in the composition of the euro area are incorporated using a chain index formula.

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