September 20, 2023

According to the statistical office of the European Union (Eurostat), in August 2023, the Euro area annual inflation rate was 5.2%, down from 5.3% reported in July 2023. The prior year’s rate was 9.1%. Annual inflation in the European Union was 5.9% in August 2023, down from 6.1% in July 2023. The rate was 10.1% a year earlier.

Services (+2.41 percentage points, pp) made the highest contribution to the annual inflation rate in the euro area in August, followed by food, alcohol & tobacco (+1.98 pp), non-energy industrial goods (+1.19 pp) and energy (-0.34 pp).

The highest annual inflation rates were recorded in Hungary (14.2%), Czechia (10.1%) and Slovakia (9.6%), while the lowest annual rates were observed in Denmark (2.3%), Belgium and Spain (both 2.4%). Compared with July, annual inflation decreased in fifteen Member States, remained stable in one and increased in eleven.

Disclaimer:

Analyst Certification -The views expressed in this research report accurately reflect the personal views of Mayberry Investments Limited Research Department about those issuer(s) or securities as at the date of this report. Each research analyst (s) also certify that no part of their compensation was, is, or will be, directly or indirectly, related to the specific recommendation(s) or view(s) expressed by that research analyst in this research report.

Company Disclosure -The information contained herein has been obtained from sources believed to be reliable, however its accuracy and completeness cannot be guaranteed. You are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited and may be unlawful. Mayberry may effect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.