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FX.co ★ Eurozone Inflation Rises As Estimated

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typeContent_19130:::2022-09-16T09:47:00

Eurozone Inflation Rises As Estimated

Eurozone inflation hit a record high in August, as initially estimated, final data from Eurostat showed on Friday.

Inflation advanced to 9.1 percent from 8.9 percent in July. The rate came in line with the estimate published on August 31.

Core inflation that excludes energy, food, alcohol and tobacco, advanced to 4.3 percent in August, as estimated, from 4.0 percent in July.

Compared to July, the harmonized index of consumer prices gained 0.6 percent in August instead of 0.5 percent previously estimated.

The annual inflation was largely driven by the 38.6 percent surge in energy prices and 10.6 percent rise in food, alcohol and tobacco prices.

At the same time, non-energy industrial goods prices moved up 5.1 percent and services cost grew 3.8 percent.

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