Inflation figures released last month indicated that US inflation eased from 8,5% in July to 8,3% in August (see graph).
A similar trend was apparent in the UK, where inflation dropped 0,2% month-on-month (m/m) to 8,6% in August. The EU, however, recorded higher inflation in August at 9,1%, up from 8,9% in July.
The rising inflation rate in the EU is creating cost-of-living pressures. These are being underpinned by soaring energy costs and supply chain bottlenecks, although the latter appear to be easing.
OIL AND GAS PRICES
With regard to energy, diverging trends are apparent in different markets and energy sources. The price of oil has decreased steadily since the second quarter of 2022, while that of liquefied natural gas (LNG) in the EU has quadrupled over the past year,…
