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8/31, 11:00 AM (Source: TeleTrader)
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Eurozone inflation up to 3% in August

The annual inflation rate in the Eurozone (EA19) stood at 3% in August, up 0.8 percentage points compared to the previous month, according to Eurostat's preliminary report published on Tuesday.

Energy is estimated to reach an annual inflation rate of 15.4%, making the highest contribution to the total inflation rate in the euro area. The non-energy industrial goods inflation rate will come in at 2.7% and the food, alcohol and tobacco inflation rate is expected to stand at 2%. The services inflation rate is projected to hit 1.1%, the report noted.

Among the Eurozone countries, the highest projected annual inflation rate of 5% in August is expected in Estonia, and the lowest, 0.3%, in Malta.

Breaking the News / MS