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Eurozone inflation at its highest since 2008 as energy prices continue to rise

The euro area annual inflation rate came at 3.4% in September, up from 3% in August, according to data by the statistical office Eurostat. That’s the highest level in 13 years.

Data shows that European Union annual inflation was 3.6% last month, compared with 3.2% in August. A year earlier, the rate was 0.3%.

The lowest annual rates were registered in Malta (0.7%), Portugal (1.3%) and Greece (1.9%), Eurostat said. The highest annual rates were recorded in Estonia, Lithuania (both 6.4%) and Poland (5.6%).

“In September, the highest contribution to the annual euro area inflation rate came from energy (+1.63 percentage points, pp), followed by services (+0.72 pp), non-energy industrial goods (+0.57 pp) and food, alcohol & tobacco (+0.44 pp),” said the report.

Source: RT