Prices for the euro area in its annual measure remained in negative territory in August, the drop in energy costs, strengthening the idea that the European Central Bank (ECB) kept interest rates steady despite a tentative recovery economic.
Consumer prices in the area of 16 countries rose 0.3 percent in the monthly comparison and fell by 0.2 percent per year, said Wednesday the statistics office of the European Union, which confirmed its year figure reported two weeks ago.
The numbers were in line with analyst expectations.
This was the third consecutive month that prices fall on-year, but officials said they see no danger of deflation, or a prolonged fall in prices accompanied by consumer expectations of additional casualties. In July, prices fell a record 0.7 percent.
"It seems highly likely that July marked the deepest deflation in the euro area and consumer prices could again be positive at the year as early as this month," said Howard Archer, chief European economist at IHS Global Insight.
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