Eurozone consumer prices fall by 0.1%
Source: Agencies |
November 17, 2009, Tuesday
|
Print Edition
Print Edition
CONSUMER prices in the 16 countries that use the euro fell by 0.1 percent in the year to October, official figures confirmed yesterday.
Eurostat, the Europe Union's statistics office, kept the rate unchanged from its preliminary estimate, in line with market expectations.
October's decline was the fifth in a row. In the year to September, prices fell by 0.3 percent. Though falling prices may be good for consumers, it is a sign of just how shaky demand remains.
Of the 16 countries using the euro, Ireland saw prices fall the most, by 2.8 percent. Greece saw the biggest price rises, at 1.2 percent.
Inflation is expected to turn positive in the months ahead as last year's sharp falls in energy prices fall out of the annual comparison and growth returns - figures last week confirmed that the eurozone returned to growth in the third quarter of 2009.
However, few analysts expect the European Central Bank to start raising borrowing costs anytime soon. The ECB has cut its benchmark rate to a record low of 1 percent as price pressures dwindled during the recession.
In the 27-country EU as a whole, consumer prices rose by 0.5 percent in the year to October, up from 0.3 percent in September.
The EU's rate was markedly higher than in the eurozone mainly because inflation rates remain elevated in some Eastern European countries.
Eurostat, the Europe Union's statistics office, kept the rate unchanged from its preliminary estimate, in line with market expectations.
October's decline was the fifth in a row. In the year to September, prices fell by 0.3 percent. Though falling prices may be good for consumers, it is a sign of just how shaky demand remains.
Of the 16 countries using the euro, Ireland saw prices fall the most, by 2.8 percent. Greece saw the biggest price rises, at 1.2 percent.
Inflation is expected to turn positive in the months ahead as last year's sharp falls in energy prices fall out of the annual comparison and growth returns - figures last week confirmed that the eurozone returned to growth in the third quarter of 2009.
However, few analysts expect the European Central Bank to start raising borrowing costs anytime soon. The ECB has cut its benchmark rate to a record low of 1 percent as price pressures dwindled during the recession.
In the 27-country EU as a whole, consumer prices rose by 0.5 percent in the year to October, up from 0.3 percent in September.
The EU's rate was markedly higher than in the eurozone mainly because inflation rates remain elevated in some Eastern European countries.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
