According to preliminary data released by Eurostat on September 1, the Eurozone inflation rate in August 2026 was 3.3% annualized, which is a significant increase from 2.9% in July. According to the data, energy prices in the Eurozone rose 14.3% year on year in August, a significant increase from 10.3% in July, which was the main factor driving up the overall inflation rate; service prices rose 3.0% year on year, down from 3.3% in July; and prices of non-energy industrial products rose 1.2% year on year, up from 0.9% in July. Food, alcohol and tobacco prices rose 1.2% year over year, the same increase as in July. Excluding energy, food, alcohol and tobacco prices, the Eurozone core inflation rate in August was 2.4%, down slightly from 2.5% in July. Looking at countries, the inflation rate of major Eurozone economies generally rebounded in August. Among them, the inflation rate in Germany rose to 2.9% from 2.8% in July, France from 2.4% to 2.7%, Italy from 2.9% to 3.2%, and Spain from 3.9% to 4.5%. European Central Bank Council member and Bank of Finland Governor Olli Rehn warned a few days ago that in the face of current inflationary pressure, the ECB “must not be taken lightly.”

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