Eurozone deflation gains momentum as energy prices drop
January 31 , 2015
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.