Annual inflation in euro area was 2.6% in August 2012 compared to 2.4% in July 2012. HICP rate in 27 member states went up from 2.5% in July 2012 to 2.7% in August 2012. The rise in the rate was caused by soaring prices in transport, alcohol and tobacco industry and housing with the biggest single upward impact of fuels. On the other hand, lowest annual rates were observed in communication sector and recreation and culture.

Countries with the lowest annual inflation rate were Sweden (0.9%), Greece (1.2%), Latvia (1.9%) and Germany (2.2%). The highest annual inflation rate was recorded in Hungary (6.0%), Cyprus (4.5%), Estonia (4.2%) and Romania (4.0%).

For more information, click here.