Inflation in eurozone down for March

Monday, March 31, 2014

Inflation in EU's common currency area is estimated to fall to 0.5 percent for March from 0.7 percent in February.

Inflation in EU's common currency area is estimated to fall to 0.5 percent for March from 0.7 percent in February.

ANKARA - Inflation in the eurozone is expected to fall to 0.5 percent in March -- the lowest rate since November 2009 and below the European Central Bank's 2 percent target, according to Eurostat, the statistical office for the European Union.

It is a drop of 1.3 percent compared with the same month in 2013 and a drop of 0.2 percent compared with February 2014 and the sixth consecutive month that the rate of inflation will be under 1 percent.

Services in the common currency area are expected to register the highest inflation rate at 1.1. percent for March followed by food, alcohol & tobacco with an expected inflation rate of 1 percent.

The eurozone consists of Belgium, Germany, Estonia, Ireland, Greece, Spain, France, Italy, the Greek Cypriot administration, Latvia, Luxembourg, Malta, the Netherlands, Austria, Portugal, Slovenia, Slovakia and Finland.

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