Eurozone inflation peaks in 10 years

The statistical office of the European Union (Eurostat) confirmed on Friday that inflation in thearea The euro rose to a 10-year high in August as the global economic recovery led to another rise in energy prices.

Eurostat said euro-zone consumer prices of the 19 countries rose 3% in August year-on-year, after rising 2.2% in July, confirming previous estimates made on 31 August. This is the highest level since November 2011.

Inflation rose on a monthly basis in thearea of the euro by 0.4%, in also in line with the preliminary estimates of the Statistical Office.

Core inflation also increased in August. This indicator excludes the volatility of food and fuel prices, and jumped to 1.6 percent year-on-year, from 0.9 percent in July, confirming previous Eurostat estimates.

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