Fri, 17 Jan, 2014 12:00:15 AM FTimes- Xinhua Report, January 17
The consumer price index (CPI) in the eurozone decreased to its lowest level of 0.8 percent in December 2013, down from 0.9 percent in November, European Union (EU) statistics office Eurostat said Thursday.
The consecutively weak data, after a four-year low of 0.7 percent in October 2013, indicated that the deflationary pressure in the single currency bloc has continued to linger.
Annual inflation in the EU was 1 percent in December, stable compared with November. In December, the lowest annual rates were observed in Greece, at minus 1.8 percent, and the highest of 2 percent were in Estonia, Austria and Britain.
The largest upward impacts on eurozone annual inflation came from tobacco, electricity, restaurants and cafes, while telecommunications, fuels for transport and medical and paramedical services had the biggest downward impacts, Eurostat said.
Some experts have warned of deflation occuring in some member states, many of which hold much debt will have more burden in real terms.
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