European Inflation Rate Declines; Payrolls Stagnate
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European inflation slowed in August, led by energy costs and as companies held back from hiring amid signs the recovery is losing momentum.
Consumer prices in the 16 euro nations increased 1.6 percent from a year earlier after rising 1.7 percent in July, the European Union statistics office in Luxembourg said today. That’s in line with an initial estimate published on Aug. 31. Payrolls in the region were unchanged in the second quarter from the previous three months, a separate report showed.