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HomeBusinessEurozone inflation at its highest since 2008 as energy prices continue to rise

Eurozone inflation at its highest since 2008 as energy prices continue to rise

Eurozone inflation at its highest since 2008 as energy prices continue to rise

The euro area annual inflation rate came at 3.4% in September, up from 3% in August, according to data by the statistical office Eurostat. That’s the highest level in 13 years.

Data shows that European Union annual inflation was 3.6% last month, compared with 3.2% in August. A year earlier, the rate was 0.3%.

The lowest annual rates were registered in Malta (0.7%), Portugal (1.3%) and Greece (1.9%), Eurostat said. The highest annual rates were recorded in Estonia, Lithuania (both 6.4%) and Poland (5.6%).

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“In September, the highest contribution to the annual euro area inflation rate came from energy (+1.63 percentage points, pp), followed by services (+0.72 pp), non-energy industrial goods (+0.57 pp) and food, alcohol & tobacco (+0.44 pp),” said the report.

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