Euro-Zone Inflation Falls 0.2% in August - by Lawrence Newman
Consumer prices in the 16 countries that use the euro fell 0.2% in August from a year-earlier, the European Union's statistics arm Eurostat reported Wednesday. August's price fall -- unrevised from the preliminary estimate -- represents a less sharp decline than the 0.7% drop on the year in July but is the third straight month of annual deflation. Economists had expected a 0.2% decline in August. Consumer prices rose 0.3% in August from a month earlier, also in line with the preliminary estimate and economist forecasts. The monthly increase was the strongest since April.
The European Central Bank expects prices to rise again on an annual basis within a few months, due largely to the fact that the extraordinarily high level of energy prices in the period before the 2008 financial crisis will no longer be included in the statistical base.
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