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- Inflation in the Eurozone dropped to the lowest level since October 2009
Inflation in the Eurozone dropped to the lowest level since October 2009
Eurostat released its inflation data fort the Eurozone on Wednesday. The inflation declined to an annual rate of -0.2% in December from 0.3% in November. That was the lowest level since October 2009.
Analysts had expected a flat reading.
The decline was driven by falling oil prices. Energy prices dropped 6.3% in December.
The inflation excluding food and energy costs increased to an annual rate of 0.8% in December from 0.7% in November.
The European Central Bank's (ECB) inflation target is close to but below 2%.
These figures are adding to pressure on the ECB. Investors speculate that the European Central Bank could decide on its policy meeting on January 22 to purchase government bonds.
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