Inflation Rises Again Above 3 Percent in Eurozone
The central bank said that although this period of rising inflation may look similar to the inflation surge of 2021–22, its drivers are different.
TL;DR
- Eurozone inflation rose to 3.3% in August, up from 2.9% in July.
- Energy costs, influenced by the Iran war, are the main driver of the inflation surge.
- The current inflation rate exceeds the European Central Bank's target of 2%.
- Energy's annual inflation rate was 14.3% in August, compared to 10.3% in July.