| 15.8°C Dublin

Inflation is steady

INFLATION in the eurozone was unchanged in August as unemployment held steady for the second month in a row.

The inflation rate remained at 2.5pc after falling to that level in July, the European Union's statistics office in Luxembourg said in an initial estimate.

Earlier this week, economic and Monetary Affairs Commissioner Olli Rehn (inset) said that that the EU may reduce its 2011 growth forecast from 1.6pc on concerns that financial turbulence could spill into the broader economy.