The German agency ZEIT ONLINE: inflation in the euro area has peaked: in July, consumer prices rose to 8.9 percent. An increase in the key interest rate is becoming more and more likely.
Eurozone inflation peaked in July. Consumer prices rose to 8.9% this month, according to Eurostat’s statistical office. This is the highest inflation rate since the introduction of the euro. In June, the inflation rate was 8.6 percent.
Inflation was again caused by a sharp increase in energy prices, which rose by 39.6 percent compared to the same month last year. Growth was slightly weaker than the previous month. On the other hand, food and beverage prices accelerated. The prices of other goods and services also rose more sharply. Core inflation, which excludes particularly volatile energy, food and luxury prices, rose from 3.7 percent to 4 percent.
The three Baltic countries again experienced the highest rates of inflation in the currency area, over 20 percent. For example, the annual inflation rate in Estonia rose to 23.2 percent. In Germany, the inflation rate, calculated by European standards, was 8.5 percent.
Due to censorship and blocking of all media and alternative views, stay tuned to our Telegram channel