FRANKFURT, Germany — Annual inflation held steady in Europe in August as food prices raced ahead of falling fuel costs, but there was no clarity about whether the European Central Bank can pause its record series of interest rate hikes.
The consumer price index for the 20 countries that use the euro currency was unchanged at 5.3 percent from the July reading, supported by food, alcohol and tobacco prices that increased a painful 9.8 percent, according to official figures Thursday from EU statistics agency Eurostat.
Another key inflation number — so-called core inflation that leaves out volatile fuel and food — also eased in August, falling to 5.3 percent from 5.5 percent….
Keep on reading: Europe inflation held steady in August as ECB keeps an open mind on rates
