Consumer prices in the euro area did indeed fall slightly in August. The European Statistical Office confirmed with definitive figures a provisional measurement. Inflation in the euro area stood at minus 0.2%, equivalent to the previous measurement, which was the first negative value since 2016.
In July, inflation was 0.4%. In particular, prices fell in Cyprus, Greece and Estonia. Hungary, Poland and the Czech Republic had the highest inflation rates. In the Netherlands, inflation reached 0.3%.
In particular, the cost of Energy fell. Food, alcohol and tobacco were, like services, the main drivers of prices.
In July, construction production in the euro area finally benefited. The European statistical office Eurostat reports that the recovery is stagnating. In June the name was larger than previously reported.
Production in construction industry increased by 0.2%. That large amount of infrastructure projects. The construction of buildings got stuck. In France, for example, construction production increased sharply, but there is a decline in construction production in countries such as Germany and Poland.
In June, there was still a large figure of 5.5%, with a further 4% reported. In fact, construction production fell slightly across the European Union in July, by 0.1%.