The European Union posted an annual inflation of 3.2% in August, a jump from 2.5% in July. The inflation in the euro area was 3.0%, a gain from 2.2% in July. DAX is up +0.24%, EURUSD is up +0.10%.
Fig: Annual Inflation Rates in August
- Malta, Greece, and Portugal posted the lowest annual inflation rates at 0.4%, 1.2%, and 1.3%, respectively. Lithuania, Estonia, and Poland posted the highest gains in inflation rate at 5.0%.
- Energy contributed to the highest surge in inflation in August in the euro area at 1.44%. Non-energy industrial goods surged by 0.65%, while food, alcohol, & tobacco and services had a 0.43% price jump.
- In August 2020, the euro area’s annual inflation was -0.2%, while that of the EU was 0.4%.