Prices in the 19 euro countries fall 0.6 per cent annually in January as ECB readies stimulus
Posted Jan 30, 2015 06:05:00 AM.
This article is more than 5 years old.
FRANKFURT – Falling oil prices and a weak economy caused consumer prices to fall even more sharply in the eurozone in January.
The annual inflation rate was minus 0.6 per cent, worse than the minus 0.5 per cent expected on average by market analysts and the minus 0.2 per cent registered in December.
Low oil plays a big role. But weak prices are also a sign of the deep economic malaise afflicting the 19 countries that share the euro currency.
The European Central Bank is readying a massive 1 trillion euro ($1.1 trillion) stimulus program to try to raise inflation closer to its goal of 2 per cent — and to get the economy moving.
Jobless figures Friday showed slight improvement, with the December unemployment rate falling to 11.4 per cent from 11.5 per cent the month before.
