Euro-area inflation rises to 3.2% in August as energy prices accelerate

Euro-area annual Harmonised Index of Consumer Prices inflation reached 3.2% in August 2026, up from 2.9% in July and 2.0% a year earlier, Eurostat reported. The European Union rate also rose to 3.2%, from 3.0% in July. Monthly HICP inflation was 0.4% in both areas.

Services contributed 1.43 percentage points to annual euro-area inflation and energy 1.29 points. Energy prices rose 14.3% year on year, compared with 10.3% in July; the monthly increase was 2.9%. Services prices were 3.0% higher than a year earlier and unchanged from July.

Country rates varied: Sweden recorded the lowest annual rate at 0.3%, while Romania had the highest at 6.3%. A contribution to the aggregate, an annual price-change rate and a monthly change are separate measures; a sector’s contribution is not its own inflation rate.