The Preliminary consumer price index (CPI) for the euro zone has risen to 9.1%, a new all-time high. The indicator grows two tenths from the 8.9% registered in July, and exceeds market expectations of 9%.
Regarding the main components of inflation in the euro area, Eurostat reveals that energy is expected to have the highest annual rate in August (38.3%), followed by food, alcohol and tobacco (10.6%), goods non-energy industrial (5.0%) and services (3.8%).
The monthly inflation has increased by 0.5%above the previous 0.1% but below the estimated 1.1%.
The interannual core CPI has grown to 4.3%, a new maximum since the creation of the euro zone, standing above the 4% of the previous month and the 4.1% expected by the market.
EUR/USD reaction
Just before the data, the EUR/USD fell to a daily low below parity at 0.9974. At time of writing, while digesting high inflation figures, the pair trades above 0.9982, losing 0.32% daily.
Source: Fx Street
With 6 years of experience, I bring to the table captivating and informative writing in the world news category. My expertise covers a range of industries, including tourism, technology, forex and stocks. From brief social media posts to in-depth articles, I am dedicated to creating compelling content for various platforms.
