Euro Area: Inflation picks up in August from July
Latest reading: Harmonized consumer prices rose 3.2% in annual terms in August, following a 3.0% rise in the prior month. August’s reading was the strongest since September 2023.
Relative to the previous month’s figures, there were higher price pressures for energy prices (+14.3% on a year-on-year basis vs +10.3% in July) and non-energy industrial goods (+1.2% vs +0.9% in July). In contrast, price pressures reduced for services in August (+3.0% vs +3.3% in July). Finally, the variation in food, alcohol and tobacco prices was the same as in the prior month (+1.2% in August and July).
Meanwhile, core consumer prices rose 2.4% on a year-on-year basis in August, following a 2.5% increase in the prior month.
Lastly, harmonized consumer prices were up 0.44% in August in month-on-month terms, following a 0.21% increase in the prior month.