Inflation in Eurozone Decreased to 4-Year Low
According to the data published by Eurostat; Despite the rising food costs, eurozone inflation fell 0.1 percent year on year to the lowest level in 4 years. Inflation gained 0.3 percent last month.
Inflation fell 0.1 percent compared to last month.
While the increase in food prices continued due to quarantines from coronavirus pandemics, energy costs dropped approximately 12 percent. This decline was the biggest decline of 10 years. Core inflation gained 0.9 percent. The expected gain was to be 0.8 percent.
The economists who participated in the survey announced that they expect the European Central Bank to increase their urgent asset purchases next week, as the economies are in deep recession.