Estonia's annual inflation rate increased to 25.2 percent in August, once again seeing the fastest inflation in the euro area, according to a Eurostat flash estimate published Wednesday. On month, prices in Estonia increased 2.4 percent.
Annual inflation in the euro area stood at 9.1 percent, up from 8.9 percent in July and 3 percent in August 2021, according to Eurostat's flash estimate (link to PDF).
Of the primary components of inflation in the euro area, energy is expected to have the highest annual rate in August (38.3 percent, down from 39.6 percent in July), followed by food, alcohol and tobacco (10.6 percent, up from 9.8 percent on month), non-energy industrial goods (5 percent, up from 4.5 percent on month) and services (3.8 percent, up from 3.7 percent on month).
August inflation was lowest at 6.5 percent in France, 7.1 percent in Malta and 7.6 percent in Finland.
In addition to Estonia, annual inflation in August also exceeded 20 percent in Lithuania and Latvia, at 21.1 and 20.8 percent, respectively. Inflation also exceeded 10 percent in the Netherlands, Slovakia, Slovenia, Greece, Belgium and Spain.
The euro area consists of Belgium, Germany, Estonia, Ireland, Greece, Spain, France, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Austria, Portugal, Slovenia, Slovakia and Finland.
Eurostat, the statistical office of the European Union, publishes a flash estimate at the end of each reference month, with a complete set of harmonized indices of consumer prices (HICP) for the euro area, EU and member states for the month released around the middle of the following month.
Eurostat will be releasing its full August data on September 16.
Editor: Aili Vahtla