August inflation up to 10.1% in the EU

The European Union's annual inflation was 10.1 per cent in August 2022, up from 9.8 per cent in July, compared to a year ago, when the rate was 3.2 per cent.

The annual inflation rate of the euro area was 9.1 per cent in August 2022, up from 8.9 per cent in July, compared to a year ago, when the rate was 3 per cent. 

This is according to figures published by Eurostat, the statistical office of the European Union.

The lowest annual rates were registered in France (6.6 per cent), Malta (7.0 per cent) and Finland (7.9 per cent). Conversely, the highest annual rates were recorded in Estonia (25.2 per cent), Latvia (21.4 per cent) and Lithuania (21.1 per cent). Compared with July, annual inflation fell in twelve Member States and rose in fifteen.

In August, the highest contribution to the annual euro area inflation rate came from energy (+3.95 percentage points, pp), followed by food & tobacco (+2.25 pp), services (+1.62 pp) and non-energy industrial goods (+1.33 pp).