Inflation fell to 2.2% in Europe, clearing the way for a European Central Bank rate cut in September

AP Business Writer

FRANKFURT, Germany (AP) — Inflation is down in Europe. August’s figure is only 2.2%, down from 2.6% in July. The pace of consumer price increases in the 20 countries that use the euro is now close to the 2% goal set out by the European Central Bank, the monetary authority for the eurozone. The figure is more evidence that the coast is clear for the ECB to cut interest rates at its September meeting.