Eurozone inflation at its lowest rate for five years

(MENAFN) Eurozone inflation reduced to the lowest level since the worst of the global financial crisis, arranging pressure on the European Central Bank to go even further to prevent the threat of deflation, Khaleej Times reported.

Growing concerns about exceptionally low price rises in the 18-country eurozone, which could predict a long period of low growth and falling wealth, have encouraged the ECB to take unparalleled action in recent months.

But inflation decreased again to 0.3 percent in September, the lowest for nearly five years and way below the ECB's near-two percent target.

The EU's data agency Eurostat also reported that eurozone unemployment remained stable at a high 11.5 percent in August, another sign that a hoped for recovery in the currency area was certainly over.