|
(CEP News) Frankfurt - Falling energy prices have pushed the euro zone inflation rate to its lowest level on record, Eurostat reported on Thursday.
According to the statistics office, euro zone inflation eased to a record low 0.6% in the 12 months to March, in line with preliminary estimates and down from February's 1.2% rate. The most significant downward impact was felt from transport fuel costs (-0.97 percentage points) and heating oil costs (-35 percentage points). Excluding the effects of energy (-8.1%), food, alcohol and tobacco prices (+1.9%), the CPI growth rate slowed to 1.5%, down 0.2 percentage points from February's figure. Economists, however, had expected a slightly more pronounced decline to 1.4%. On a monthly basis, consumer prices rose 0.4%, unchanged from rise recorded between January and February. Written by CEP News European Staff,
This email address is being protected from spam bots, you need Javascript enabled to view it
CEP Newswires - CEP News © 2009. All Rights Reserved. www.economicnews.ca The Copying, Broadcast, Republication or Redistribution of CEP News Content is Expressly Prohibited Without the Prior Written Consent of CEP News. A copy of CEP News disclaimer can be found at http://www.economicnews.ca/cepnews/wire/disclaimer. |
