Estimates released by the European Union’s Statistical Office (Eurostat) on Tuesday showed that the inflation rate in the single European currency area, the euro, entered the negative territory and recorded negative 0.2% in August.
Annual inflation in the countries of the region, which includes 19 countries, was 0.4% in July.
Eurostat attributed, in its first estimate for the month of August, the recession to reasons, on top of which is the decline in energy prices by about 8%.
Annual inflation is measured by comparing price levels between the month in question and the same month of last year.
Meanwhile, the average unemployment rate in the Eurozone rose to 7.9% in July, up 0.2% versus June.
Regarding the 27 European Union countries as a whole, Eurostat data for July showed the unemployment rate rose to 7.2%, compared to 7.1% in the previous month.
The bureau estimates that 15.2 million people were unemployed in July in the European Union as a whole, including 12.8 million in the euro area.
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