Inflation accelerates more than expected in the euro zone and supports a new interest rate hike
The euro zone's harmonised CPI accelerated by four tenths last month due to the sharp increase in energy, which soared by 14.3%, and rises to unprecedented levels since September 2023, increasing pressure on the ECB.
Inflation in the eurozone rose to 3.3% in August, higher than the 3% predicted by market consensus, according to Eurostat. This is the highest rate since September 2023. Energy prices surged 14.3% in August, while food, industrial goods and services also saw price increases. Spain has the highest inflation rate among major eurozone economies, at 4.5%, significantly above the eurozone average and countries like Germany, France, and Italy.
Written by urgent.news from Expansion ES's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
