Eurozone: Biggest Consumer Price Slide in the Monetary Union's History

In January, the Eurozone saw its biggest consumer price slide since the monetary union formed in 1999.

Seventeen out of the 19 member states recorded negative prices, including Germany, the Continent's largest economy.

Greece registered the worst price slump at -2.8%.

The European Central Bank hopes to fend off deflation with a quantitative easing program that it plans to launch in March.

Read this excerpt from a February 24 Telegraph article:

Inflation slumped to -0.6pc in the first month of the year, confirming the monetary bloc suffered its joint biggest drop in prices since it launched in 1999.

The slump was led by a collapse in global energy prices, which fell 9.3pc in February, accelerating their decline from a 6.3pc fall in December. ...

Only Malta and Austria avoided a slide into negative prices, while Greece recorded the biggest negative price growth, at -2.8pc.

Germany, France, Finland, Latvia and Estonia also joined the list of deflationary countries for the first time, in developments that will now worry policymakers at the European Central Bank ... .

Fears of a slide into deflation will see the European Central Bank begin an unprecedented programme of bond-buying next month.

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