Eurozone inflation confirmed at 3.2% in August, a touch below the flash estimate

Eurostat published its final estimate of August 2026 consumer price inflation for the euro area, or eurozone, on 17 September, confirming the rate at 3.2%, one-tenth of a point below the 3.3% flash estimate published on 1 September (flash report).

The confirmed figures

• Euro area annual inflation: 3.2% in August, up from 2.9% in July. A year earlier it was 2.0%
• EU annual inflation: 3.2% in August, up from 3.0% in July
• Monthly rate: 0.4% in the euro area and the EU

What pushed inflation up

Compared with July, four components added to the annual rate:

• Services: +1.43 percentage points
• Energy: +1.29 percentage points
• Non-energy industrial goods: +0.30 percentage points
• Food, alcohol and tobacco: +0.22 percentage points

By country

Across all EU member states, the lowest annual rates were in Sweden (0.3%), Estonia (1.3%) and Czechia (1.5%), and the highest in Romania (6.3%), Lithuania (5.6%) and Cyprus (5.2%). Among euro area members, Lithuania and Cyprus were highest and Estonia lowest. Germany's rate was 2.9%, France's 2.6%, Italy's 3.2% and Spain's 4.6%. Compared with July, inflation fell in six member states, was stable in one and rose in twenty.

Why the revision matters

A final estimate landing a tenth below the flash figure is a small but genuine downside surprise, and it doesn't change the direction: inflation is still up from 2.9% in July and well above the 2.0% of a year earlier. The European Central Bank raised its deposit rate to 2.50% on 10 September, when the 3.3% flash estimate was the latest reading (report), and euro area growth had already rebounded in the second quarter partly on stronger exports (GDP report). See headline and core inflation explained for how these releases are read.

Eurostat's next full inflation release, covering September, is scheduled for 16 October 2026. Live prices: EUR/USD.