Economic Buzz: Eurozone inflation down from 3.3% to 3.2% in August

The annual inflation rate in the Eurozone was revised down from 3.3% to 3.2% in August, according to a second report by Eurostat published on Thursday. Inflation still came in higher than in July, when it stood at 2.9%. The European Union's consumer price index (CPI) also grew by 3.2% year-on-year. On a monthly basis, both the euro area and EU inflation were reported at 0.4%. Eurozone's core annual inflation, excluding energy, food, alcohol and tobacco, was at 2.4%.

Services and energy contributed the most to the CPI increase in August, rising by 1.43 and 1.29 percentage points, respectively. The highest inflation was recorded in Romania at 6.3%, Lithuania at 5.6% and Cyprus at 5.2%, while Sweden had the lowest inflation at 0.3%, followed by Estonia at 1.3% and Czechia at 1.5%.

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