Eurozone inflation drops to 2.2% in August

By Gokhan Ergocun

ISTANBUL (AA) - The annual inflation rate in the eurozone fell to 2.2% in August, down from 2.6% in July, according to a flash estimate released by Eurostat on Friday.

The services sector experienced the highest annual price increase, with a 4.2% hike. In contrast, non-energy prices saw a modest increase of 0.4%, while energy prices decreased by 3% compared to the same period last year.

Among eurozone countries, Belgium recorded the highest inflation rate at 4.5%, followed by the Netherlands at 3.3% and Slovakia at 3.2%. Lithuania posted the lowest inflation rate at 0.7%, closely followed by Latvia at 0.9%.