Consumer prices down 0.1 per cent across eurozone in September, first decline since March

BRUSSELS – Official figures show that consumer prices across the 19-country eurozone fell in September for the first time in half a year as energy prices tanked.

The 0.1 per cent annual decline reported Wednesday by Eurostat, the EU’s statistics office, is likely to ratchet up pressure on the European Central Bank to increase and extend its monetary stimulus. The ECB looks to have inflation at just below 2 per cent.

The decline was expected following a drop in oil prices. Eurostat said energy prices were down a whopping 8.9 per cent in the year to September.

The eurozone previously experienced falling consumer prices between December 2014 and March this year.

Earlier this year, the ECB launched a 1.1 trillion-euro ($1.2 trillion) government bond-buying program in the hope of getting inflation back toward target.

News from © The Associated Press, . All rights reserved.
This material may not be published, broadcast, rewritten or redistributed.

Join the Conversation!

Want to share your thoughts, add context, or connect with others in your community?

Create a free account

The Associated Press

The Associated Press is an independent global news organization dedicated to factual reporting. Founded in 1846, AP today remains the most trusted source of fast, accurate, unbiased news in all formats and the essential provider of the technology and services vital to the news business. More than half the world’s population sees AP journalism every day.

Related Articles