ANKARA
Annual inflation in the Eurozone fell to minus 0.6 percent in January, its lowest level since July 2009, according to a report by the European Union Statistical Authority on Tuesday.
“Euro area annual inflation was down from minus 0.2 percent in December,” the report said.
The decline in prices in January was largely due to a drop in energy and telecommunications costs.
Consumer prices in the 28 member-state European Union fell 0.5 percent in January from a year earlier.
Economists fear that the Euro area will suffer from deflation, in which consumer spending slows to a point that there is limited economic growth.
