Deflation Instead of inflation in the euro area
The European Union’s statistical office, Eurostat, on Tuesday said as preliminary data that consumer prices fell 0.2 percent year-on-year in August after rising 0.4 percent in July.
Experts predicted a 0.2 percent rise in consumer prices in August.
Deflation in August was caused by energy prices falling by 7.8 percent, while price increases for other product categories slowed year-on-year compared with July. (MTI)
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