Inflation hits 9.1% in countries using euro currency

Inflation is at the highest levels since record-keeping for the euro began in 1997

A symphony of light consisting of bars, lines and circles in blue and yellow, the colours of the European Union, illuminates the south facade of the European Central Bank (ECB) headquarters in Frankfurt, Germany. File | Photo Credit: Reuters

Inflation in the European countries using the euro currency hit another record in August, fuelled by soaring energy prices mainly driven by Russia’s war in Ukraine.

Annual inflation in the eurozone’s 19 countries rose to 9.1% in August, up from 8.9% in July, according to the latest figures released Wednesday by the European Union statistics agency.

Inflation is at the highest levels since record-keeping for the euro began in 1997.

Energy prices surged 38.3%, while food prices rose 10.6%. Prices for goods were up 5% and the cost of services rose 3.8%.