Eurozone inflation hit a new record in August, reflecting the intensifying cost of living crisis, and added further pressure on the European Central Bank to tighten policy more aggressively as soon as next week.
Inflation rose to 9.1 percent in August from 8.9 percent in July. The pace was also above economists' forecast of 9.0 percent.
Core inflation that excludes energy, food, alcohol and tobacco, advanced to 4.3 percent in August from 4.0 percent in July, while the rate was expected to remain steady at 4.0 percent.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.