Euro area annual inflation rises to new record high of 9.1% in August
The eurozone inflation rate hit a new record of 9.1 percent in August, the EU statistics agency said Wednesday, increasing pressure on the European Central Bank to hike interest rates.
Euro area annual consumer inflation jumped to a new record high of 9.1% in August, according to a flash estimate from the EU's statistical office on Wednesday.
The figure was up from 8.9% in July, Eurostat data showed.
Energy is expected to have the highest year-on-year rise of 38.3% in August compared to 39.6% in July, it said in a statement.
It was followed by food, alcohol and tobacco (10.6% in August, up from 9.8% in July), non-energy industrial goods (5.0% in August, up from 4.5% in July) and services (3.8% in August, compared with 3.7% in July).
Meanwhile, core inflation, which excludes energy, food, alcohol, and tobacco, rose to 4.3% in August while it was 4% a month ago.
On a monthly basis, Eurozone's consumer prices index rose 0.5% in August following a 0.1% increase in July.