EU Inflation Topped 10% For August Versus Last Year

September 18, 2022 Economy, European Union

Courthouse News reports:

Inflation in the 19-nation eurozone rose to 9.1% in August, up 7.1% from just a year earlier, according to data released Friday by Eurostat, the EU’s statistics agency.

It remains 1% lower than the 10.1% inflation rate across the broader 27-member EU, which recorded a rate of just 3.2% in August 2021. The latest EU rate broke the previous record of 9.8% set in July.

Estonia, Latvia and Lithuania are being hit hardest by soaring costs, with inflation rates last month of 25.2%, 21.4% and 21.1%, respectively. Inflation was lowest in France, Malta and Finland, with August rates of 6.6%, 7% and 7.9% respectively.

Read the full article. The US inflation rate was 8.3% last month.

Inflation is rising faster in Europe than in the U.S., driven by the cost of energy, food and services. @gabetynes https://t.co/WINlzX0PPh

— Courthouse News (@CourthouseNews) September 16, 2022