Euro zone: Inflation confirmed at 9.1% over one year in August

BRUSSELS, Sept 16 (Reuters) – Inflation in the euro zone hit 9.1% in August, a level not seen since the creation of the single currency, Eurostat confirmed on Friday, an acceleration helped by soaring prices energy and food.

Compared to July, the consumer price index in the 19 countries of the region posted an increase of 0.6%, against +0.5% in the first estimate.

The increase in energy prices (+38.6% at an annual rate) alone contributed to the overall rise of 3.95 percentage points, against +2.25 points for those of food products, alcohol and tobacco (up 10.6% compared to August 2021).

Inflation excluding energy and unprocessed food came out at 5.5% over one year, after +5.1% in July.

The prices of industrial goods excluding energy increased by 5.1% in one year, those of services by 3.8%.

The European Central Bank (ECB), which has set itself an inflation target of around 2%, raised its key interest rates by three quarters of a point last week, an unprecedented increase, and it plans to continue their rise in the coming months.

(Report Philip Blenkinsop, French version Marc Angrand, edited by Sophie Louet)

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