Euro area annual inflation rate increases to 3.0%

August 31, 2021

According to the statistical office of the European Union (Eurostat), in August 2021, the euro area annual inflation rate is expected to be 3.0%, 0.8% higher than 2.2% booked in July 2021. However, it was noted that a year earlier the annual rate was -0.2% in August 2020.

Eurostat also noted, the highest contribution to the annual euro area inflation rate in August 2021 is expected to be energy, increasing from 14.3% in July to 15.4%, followed by non-energy industry goods which is expected to climb to 2.7% from 0.7% in July. Services are estimated to increase to 1.1%, compared with 0.9% in July and Food, alcohol & tobacco increase is projected to be at 2.0% up from 1.6% in July.

The lowest annual rates were observed in Malta (0.3%), Greece (1.2%) and Portugal (1.3%). The highest annual rates were recorded in Estonia (5.0%), Lithuania (4.9%) and Belgium (4.7%) when compared with July 2021. Among the Member states annual inflation was stable in two and rose in nineteen.


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