Inflation in the euro area continued to slow down in August, confirming analysts' estimates and giving the European Central Bank further scope to ease policy if this trend continues. 

In particular, the annual inflation rate in the euro area was 2.2% in August 2024, down from 2.6% in July and 5.2% a year earlier, according to final data released today by Eurostat, the European statistical office. 

For Greece, Eurostat data showed inflation strengthening to 3.2% in August from 3% in July. In August 2023, inflation was at 3.5%. 

Meanwhile, the European Union's annual inflation was at 2.4% in August from 2.8% in July and 5.9% a year earlier. 

Eurostat said the lowest annual rates were recorded in Lithuania (0.8%), Latvia (0.9%), Ireland, Slovenia, and Finland (1.1%), while the highest annual rates were recorded in Romania (5.3%), Belgium (4.3%), and Poland (4.0%). 

Compared with July 2024, annual inflation decreased in twenty Member States, remained stable in one, and increased in six.