Eurozone August consumer prices rise 3.3%, highest in 2 years 11 months
MacroDigital Finance
The European Union's statistics office released on the 1st that the eurozone consumer price index for August (preliminary figure) rose 3.3% year-on-year, accelerating from the previous month's 2.9% increase, reaching the highest level since September 2023, a 2-year 11-month high. This matched the market forecast (3.3% increase) compiled by Reuters. Against the backdrop of Middle East tensions, energy price increases expanded significantly, while service price growth slowed. By item, energy rose 14.3% (previous month 10.3%), food, alcohol, and tobacco rose 1.2% (same as previous month), non-energy industrial goods rose 1.2% (previous month 0.9%), and services rose 3.0% (previous month 3.3%). The core index, excluding volatile energy and food, rose 2.4% (previous month 2.5%), showing a slowdown. Among major countries, Germany rose 2.9% (previous month 2.8%), France 2.7% (previous month 2.4%), Italy 3.2% (previous month 2.9%), and Spain 4.5% (previous month 3.9%), all expanding.
