The European Union's statistics center said the average inflation rate in the 19 eurozone member states rose by 0.8 percent in the twelve months ending In August to 3.0 percent from the same figure ending last month to distance the rate of re-inflation from the 2 percent level targeted by the central bank of the region, according to The Financial News. At the EU level, the rate averaged 3.2%, up 0.7% from the previous month. Compared to the previous month, the inflation rate in one country declined and increased in 25 countries.
After eight months of consecutive inflation increases, the U.S. Census Bureau said the average inflation rate of the world's largest economy fell by 0.1 percent in the 12 months ending in August to 5.3 percent from the same period ending last month. The inflation rate, which is 0.1 percent lower than previously expected and the lowest inflation level recorded in the United States in three months.
On Wall Street, all indices were down, to the point that all three major stock indexes closed lower than they were yesterday.
The Dow Jones Idential Orridge index closed down 0.48 percent from the previous day at 34,584.62 points. The S&P 500 fell 0.91 percent to 4,433.92 points and the other major U.S. stock index, the Nasdaq Composite, closed down 0.91 percent at 15,43.97 points.
Also in the precious metals market, the price of gold fell 0.71 percent from the previous day at $1,752.51. Silver ounces were traded down 0.83 percent at $22.38.
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