August marks the highest year-on-year inflation in the eurozone so far in 2022

August becomes the month with the highest year-on-year inflation (9.1%), so far this year, after the increase in prices was 5.1% in January, from 5.9% in February, from 7.4% in March and April and 8.1% in May, 8.6% in June, and 8.9% in July.

Core inflation, which excludes energy and fresh food due to more volatile prices, stood at 4.3% last month, which is equivalent to growth of three tenths compared to July.

Energy prices go up again

In the eighth month of the year, energy was the main factor behind the increase in prices, with an annual growth rate of 38.3% which, however, is lower than that of July (39.6%) and above all peak of 44% observed in March.

For their part, the price of processed foods, alcohol and tobacco increased by 10.5% (compared to 9.4% in May), while that of unprocessed foods decreased slightly, from 11.1%. from July to 10.9% in August.

On the other hand, the price of non-energy industrial goods increased five tenths, up to 5%, while the increase in the price of services this month was one tenth less than the previous month (3.8% compared to 3.7% of May).

The countries most affected and those least affected by inflation

The three Baltic countries were once again the common currency partners with the highest inflation rates in June, led by Estonia (25.2%), followed by Lithuania (21.1%) and Latvia (20.8%). ).

The group of countries with double-digit inflation is completed by the Netherlands (13.6%), Slovakia (13.3%), Slovenia (11.5%), Greece (11.1%), Belgium (10.5%), %) and Spain (10.3%, according to the Harmonized CPI).

Below this threshold but above the euro zone average are Cyprus (9.6%), Portugal (9.4%) and Austria (9.2%).

Lastly, seven common currency countries had lower-than-average inflation in August. These are Italy (9%), Ireland (8.9%), Germany (8.8%), Luxembourg (8.6%), Finland (7.6%), Malta (7.1%) and France (6.5%).