Inflation remained depressed in the euro area in August

Inflation remained depressed in the euro area in August, which is likely to further strenghten market expectations that the Governing Council of the European Central Bank will loosen its monetary policy at its September meeting.

According to preliminary data released by the European Union’s Statistical Office (Eurostat) on Friday, consumer prices increased by 1.0 percent year-on-year in August, in line with analysts’ expectations. 1.0 percent is the lowest value since February last year.

In August last year, the annual rate of increase in consumer prices reached 2.1 percent. (MTI)