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Eurozone inflation turns negative for first time in June

Updated:2009-07-01 10:56:09

Annual inflation in the euro zone dropped into negative territory for the first time on record in June, preliminary figures released by the European Union (EU)'s statistics bureau Eurostat showed on Tuesday.

The eurozone inflation stood at -0.1 percent in June after remaining unchanged from a year ago in May, marking the first time that the price index dived below zero since the data was first compiled in 1996.

Analysts had expected an annual drop of 0.2 percent for the 16-nation bloc sharing the euro in June.

Inflation in the euro zone has fallen sharply in recent months mainly due to retreat of world oil prices and the worsening economic situation.

 

 

Source:http://news.xinhuanet.com

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