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Decline in consumer prices slows in EU

The decline in consumer prices has slowed in European countries, reports the German website Proplanta.de. This is mainly due to the fact that the decline in oil prices has slowed. The annual inflation rate was -0.3% in February. That was clearly a much smaller decline in price than in January (-0.6%). This information was shared last Tuesday in Luxembourg by the European statistics agency. The rate at which prices fell in January had not been seen since July 2009.

Experts expect the inflation rate in the Eurozone to remain negative for some months since the oil prices are still less than half of what they were last summer, and because economic growth in Europe is still slowly recovering.