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Wed, 18 May, 2016 09:39:11 PM FTimes- Xinhua Report, May 18
The statistics agency of the European Union (EU) confirmed on Wednesday a flash estimate of eurozone's annual inflation at -0.2 percent in April, making it the second month this year in which the eurozone was in deflation, Eurostat said on Wednesday.
Eurostat said the negative annual rates were observed in 17 member states. The lowest annual rates were registered in Romania at -2.6 percent, while the highest in Belgium at 1.5 percent.
The largest upward impacts to the inflation came from restaurants and cafes, while fuels for transport, heating oil and gas had the biggest downward impacts.
The deflation is a setback that underlines the difficulty of the challenge facing the European Central Bank (ECB) as it struggles to boost consumer prices.
The ECB has launched a series of stimulus packages since mid-2014 in order to achieve its inflation target of "below, but close to 2 percent."
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