Mexican Media Brands
Eurozone Slides into Deflation
The eurozone's year-on-year inflation rate swung from 0.3% in November to -0.2% in December, according to a flash estimate from Eurostat.
#economics
Share
The eurozone's year-on-year inflation rate swung from 0.3% in November to -0.2% in December, according to a flash estimate from Eurostat. The data will be updated in mid-January.
The EU's data service says the onset of deflation is due entirely to plunging energy prices, which fell 3% in November and more than 6% in December. Eurostat estimates that inflation last month was zero for industrial goods, food, alcohol and tobacco. It says prices for services rose about 1%.
The onset of deflation puts new pressure on the European Central Bank to take stronger steps to stimulate the region's economy. The bank targets an inflation rate of about 2%. Actual rates have steadily fallen below that level for the past two years.
RELATED CONTENT
-
Tariffs on Autos: “No One Wins”
While talk of tariffs may make the president sound tough and which gives the talking heads on cable something to talk about, the impact of the potential 25 percent tariffs on vehicles imported to the U.S. could have some fairly significant consequences.
-
Report Forecasts Huge Economic Upside for Self-Driving EVs
Widespread adoption of autonomous electric vehicles could provide $800 billion in annual social and economic benefits in the U.S. by 2050, according to a new report.
-
On The German Auto Industry
A look at several things that are going on in the German auto industry—from new vehicles to stamping to building electric vehicles.