The annual inflation rate in the Eurozone was 2.2% in August 2024, down from 2.6% in July. A year earlier, the rate was 5.2%, according to Eurostat data.
The annual inflation rate in the European Union was 2.4% in August 2024, down from 2.8% in July. A year earlier, the rate was 5.9%.
The lowest annual rates were recorded in Lithuania (0.8%), Latvia (0.9%), Ireland, Slovenia, and Finland (all 1.1%). The highest annual rates were observed in Romania (5.3%), Belgium (4.3%), and Poland (4%). Compared to July 2024, annual inflation decreased in twenty member states, remained stable in one, and increased in six.
In August 2024, the most significant contribution to the annual inflation rate in the Eurozone came from services (+1.88 percentage points, pp), followed by food, alcohol, and tobacco (+0.46 pp), non-energy industrial goods (+0.11 pp), and energy (-0.29 pp).