Annual inflation in the last month of summer significantly exceeded the 2% target level set by the European Central Bank (ECB) and was higher than in July, when it was 2.9 percent.
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“Looking at the main components of inflation in the euro area, it is believed that energy prices will show the highest annual growth in August,” Eurostat noted, adding that the annual increase in energy prices, which was 10.3% in July, rose to 14.3% in August and was the highest since January 2023.
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