Inflation in the Eurozone saw a significant drop to 2.2% in August 2024, down from 2.6% in July, a sharp contrast to the 5.2% rate a year earlier, according to Eurostat.
The European Union also witnessed a decrease, with inflation falling to 2.4% in August, compared to 2.8% in July. Slovenia, alongside Lithuania, Latvia, Ireland, and Finland, ranked among the top countries with the lowest inflation rates at just 1.1%. In contrast, Romania (5.3%), Belgium (4.3%), and Poland (4%) reported the highest rates.
Services contributed the most to the Eurozone’s inflation (+1.88 percentage points), while energy prices offered some relief with a decrease of -0.29 percentage points. Overall, inflation dropped in 20 EU member states, highlighting continued economic recovery.
