Eurozone inflation hits 10-year high | latest news

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The European Union statistics office (Eurostat) confirmed that inflation in the euro area rose to its highest level in ten years in August, as the recovery of the global economy led to another increase in energy prices.

Eurostat said consumer prices in the 19-country euro zone rose 3 percent in August on an annual basis after rising 2.2 percent in July, confirming earlier estimates made on August 31. This is the highest level since November 2011.

Month-on-month inflation in the euro zone rose 0.4 percent, also in line with preliminary estimates from the statistics office.

Core inflation also increased in August. This index excludes volatile food and fuel prices and jumped to 1.6 percent on an annual basis, compared with 0.9 percent in July, confirming earlier estimates by Eurostat.





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