The euro zone’s annual consumer inflation rate (CPI) hit a new all-time high of 9.1% in August, accelerating from 8.9% in July, according to final data released on Friday. by the European Union’s statistical agency, Eurostat.
The August result confirmed the preliminary reading and was in line with the expectations of analysts consulted by the The Wall Street Journal.
Record CPI puts pressure on the European Central Bank (ECB) to keep raising interest rates. The ECB’s inflation target is 2%.
Compared to July, the euro zone’s CPI rose 0.6% in August. In this case, the market consensus was up 0.5%.
Only the bloc’s core CPI, which disregards energy and food prices, had an annual gain of 4.3% in August, confirming the previous estimate. In comparison with July, the core index increased by 0.5% in the last month.
Source: CNN Brasil
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