Economic Buzz: Eurozone Annual Inflation Rise To 8.9%

18 Aug 2022 , 02:48 PM

The euro area annual inflation rate was 8.9% in July 2022, up from 8.6% in June. A year earlier, the rate was 2.2%. European Union annual inflation was 9.8% in July 2022, up from 9.6% in June. A year earlier, the rate was 2.5%. These figures are published by Eurostat, the statistical office of the European Union. In July, the highest contribution to the annual euro area inflation rate came from energy (+4.02 percentage points, pp), followed by food, alcohol & tobacco (+2.08 pp), services (+1.60 pp) and non-energy industrial goods (+1.16 pp). Powered by Commodity Insights