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Eurozone Inflation Slows
A drop in energy prices caused the inflation rate in the eurozone to shrink to an annualized 0.7% from 1.1% in September the slowest pace since February 2010, Eurostat estimates.
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A drop in energy prices caused the inflation rate in the eurozone to shrink to an annualized 0.7% from 1.1% in September the slowest pace since February 2010, Eurostat estimates.
Core inflation which ignores the contributions of energy, food, alcohol and tobacco declined to 0.8% from 1%.
Analysts say the low inflation rate, coupled with rising unemployment, puts pressure on the European Central Bank to reduce its key interest rate from the current 0.50% set in May.
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