Annual inflation in the euro area was 2.6 percent in August this year, increasing compared with July, according to a report released by Eurostat, the Statistical Office of the European Communities. In August 2011, the annual inflation rate was 2.5 percent. Meanwhile, monthly inflation was 0.4 percent in August this year.
Meanwhile, in the European Union annual inflation was 2.7 percent in August, also increased compared with last month. In the same month of the previous year, the annual inflation rate was registered as 3.0 percent, while monthly inflation was 0.4 percent in August this year.
In August, the lowest annual inflation rates in the European Union were observed in Sweden with 0.9 percent, in Greece with 1.2 percent and in Latvia with 1.9 percent, while the highest were seen in Hungary with 6.0 percent, in Cyprus with 4.5 percent and in Estonia with 4.2 percent. In August this year, annual inflation fell in four states, rose in 20 states and remained stable in two states compared with the same month of 2011.