Prices continue their climb in the eurozone. The figure rose to 3.3% year-on-year in August, four tenths higher than the previous month and its highest level in more than three years, since September 2023. According to the figures presented today by Eurostat, prices are rising driven by energy, which has been impacting continental lands since the beginning of the conflict in the Middle East. The cost of energy soars by 14.3%.
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Since March, it has been above the 2% threshold targeted by the European Central Bank (ECB), the August increase brings the interest rate hike by the entity chaired by Christine Lagarde closer. Today, with interest rates at 2.25%, the central bankers of the eurozone will meet next September 10. A rate hike would seek to restrict credit and cool activity to contain prices, the entity’s main mandate.
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Spain, highlighted in the country comparison
Spain is in the group of countries with the highest inflation. In the national case, prices advance by 4.5% according to Eurostat’s harmonized system. Only Lithuania (5.8%), Cyprus (5.2%), and Bulgaria (5.1%) surpass it. In the rest of the major engines of the eurozone economy, France shows the most contained evolution (2.7%), Germany is slightly above (2.9%), and Italy stands at 3.2%.
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