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Eurzone slips to deflation on price plunge in December
(MENAFN) Official figures showed that the eurozone slipped into deflationary territory for the first time since 2009 after prices dropped in December, AFP reported.
Inflation in the single currency area was at minus 0.2 percent last month, dragged down by plummeting oil prices and signaling big problems ahead with renewed crisis in debt-plagued Greece also on the horizon.
Amid the instability, the first confirmed sign of a fall in consumer prices since the last crisis could force the European Central Bank to act more boldly to prop up the single currency.
Inflation in the single currency area was at minus 0.2 percent last month, dragged down by plummeting oil prices and signaling big problems ahead with renewed crisis in debt-plagued Greece also on the horizon.
Amid the instability, the first confirmed sign of a fall in consumer prices since the last crisis could force the European Central Bank to act more boldly to prop up the single currency.
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