Annual inflation in the euro area was two percent in August this year, down from 2.1 percent in July, according to a report released by Eurostat, the Statistical Office of the European Communities. In August last year, the annual inflation rate was 1.5 percent.
Meanwhile, in the European Union (EU-28) annual inflation was 2.1 percent in August, down from 2.2 percent in July. In August 2017, the annual inflation rate in the EU-28 was 1.7 percent.
The lowest inflation rates in August this year were observed in Denmark (0.8%) and Ireland and Greece ( both 0.9%), whereas the highest annual rates were recorded in Romania (4.7%), Bulgaria (3.7%), Estonia (3.5%) and Hungary (3.4%). Compared with July, annual inflation rose in ten member states, remained stable in five and fell in twelve.