Eurozone deflation gains momentum as energy prices drop

  • Deflation in the eurozone is gathering pace, new data have revealed.

    January prices in the eurozone were down 0.6% from their levels in the previous year. In December, prices were down 0.2% from the corresponding time in the previous year.

    Falling oil prices have played a major role in lowering prices in the 19 eurozone nations. In January, energy prices dropped nearly 9%.

    The European Central Bank launched a program last week to inject 1 trillion euros into the region’s economy.



    Tagged as: deflation, eurozone, oil prices, energy costs, eurozone nations, ECB, euros, business news