By Clement Bigot, for Eurasia Business News – September 18, 2021

Marking a 10-year high, euro zone’s annual inflation rate is confirmed at 3% in August 2021, compared to 2.2% in July,  according to the latest figures released  by Eurostat on Friday, September 17. A year earlier it was -0.2%.

European Union annual inflation was 3.2% in August 2021, up from 2.5% in July. A year earlier, the inflation rate was 0.4%.

This peak, linked to soaring energy prices and the global economic recovery after the crash on 2020, may last amid further money printing by the European Central Bank. Pressures on supply chains that persist across the globe and have been driving up the price of ocean freight and air freight for month also fuel inflation.

The euro zone gathers 19 European countries, which use the single currency Euro.

Exchange rate as of September 17, 16:00 UTC : 1 EUR = 1.17 US Dollar

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© Copyright 2021 – Clement Bigot, legal expert and consultant in international relations.