The Magazine for Asian Investors
According to the Statistical Office of the European Union (Eurostat), the consumer price index (CPI) for the euro zone rose to 9.1% in August, the highest level since Eurostat began collecting data in 1997 (February: 8.9%).
The CPI also exceeded the inflation target set by the European Central Bank (ECB) of 2%.
The eurozone CPI has risen for nine consecutive months, driven by rising food and energy prices influenced by the heat wave that spread across Europe and the war between Russia and Ukraine.
Core CPI, which excludes food and energy, the ECB’s preferred gauge of inflation, rose to 5.5% in August from 5.1% in July.