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For additional information relating to this article, please contact:

Thomas StorringDirector – Economics and Statistics
Tel: 902-424-2410Email: thomas.storring@novascotia.ca

September 17, 2020
EU AND EURO AREA CONSUMER PRICE INDEX, AUGUST 2020

In August 2020, a month in which COVID-19 containment measures continued to be lifted, the year-over-year inflation rate increased to 0.4 per cent in the European Union and declined to -0.2 per cent in the Euro Area. European Union data for this report is now for the 27 member countries of the European Union, not including the UK. 

 

Among EU member states, the fastest year-over-year inflation was reported in Hungry, Poland, and Czechia while the lowest inflation was reported in Cyprus, Greece, and Estonia.

Compared to the previous month, annual inflation rates declined in sixteen Member States, remained stable in five and rose in six.                                                                                                                                                                                                                                 

August food price inflation moved down to 1.9 per cent (year-over-year) in the European Union and moved down to 1.3 per cent (year-over-year) in the Euro Area. 

Energy inflation (August-20 vs August-19) continued to rebound in August. Energy inflation was at -7.0 per cent in the European Union and -7.8 per cent in the Euro Area.

Excluding the impacts of volatile energy, food, alcohol and tobacco prices year-over-year inflation increased to 0.9 per cent for the European Union and increased to 0.4 per cent for the Euro Area. 

 

Source: Eurostat-News Release

 

 



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