The annual inflation rate was 1.0% in the euro area and 1.4% in the European Union in August, at levels similar to those in July (see EUROPE 12310/29), according to figures published by the Statistical Office of the European Union (Eurostat) on Wednesday 18 September.
However, these values are lower than those observed a year ago. In fact, the annual inflation rate reached 2.1% in the euro area and 2.2% in the European Union in August 2018.
However, these overall rates hide significant disparities between the different Member States. Thus, the annual inflation rate was negative in Portugal (-0.1%) and reached 0.1% in Greece in August, while prices rose by 3.1% between August 2018 and 2019 in the Netherlands and Latvia.
In the period, the price of services contributed most to the increase in the annual inflation rate in the euro area over the same period, by up to 0.6 percentage points, ahead of food, alcohol and tobacco (0.4 percentage points), non-energy industrial goods (0.08 percentage points) and energy (-0.6 percentage points). (Original version in French by Lucas Tripoteau)