Lower energy prices pull eurozone into deflation
January 8 , 2015
The eurozone has entered deflation, with December prices 0.2% lower compared to a year ago, according to official data.
The negative inflation means that the European Central Bank (ECB) may need to take more actions to boost the region’s economy.
Lower energy costs caused due to falling oil prices are the main reason behind the deflation. In December, energy prices were 6.3% lower than the same month of the previous year.
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