Inflation in the euro zone is at a record level, but still much lower than in Hungary

By: Trademagazin Date: 2022. 09. 01. 09:22

In the euro area, consumer prices rose by a record 9.1 percent in August compared to the same month of the previous year, the EU’s statistical office, Eurostat, announced on Wednesday as preliminary data.

Inflation is lower everywhere than in Hungary

Analysts expected annual inflation of 9 percent for August after 8.9 percent in July. Inflation is already more than four times the 2 percent target of the European Central Bank (ECB), notes MTI.

Core inflation excluding food and energy prices was 4.3 percent on an annual basis in August, after 4 percent in July. Analysts expected a slightly lower value in this case as well.

The price of energy carriers increased by 38.3 percent compared to August last year in the euro area, but the rate of price increase slowed somewhat after the 39.6 percent in July. The price increase of food, alcohol and tobacco products was 10.6 percent after 9.8 percent in July, while manufactured goods rose by 5 percent (4.5 percent in July) and services by 3.8 percent (3.7 percent in July). .

In August, consumer prices increased by 0.5 percent compared to July, when they registered a 0.1 percent increase compared to June.

MTI