Despite €800bn of asset purchases by the central bank the inflation rate in the eurozone is still zero.
by Ben Chu
Good news: prices are no longer falling in the eurozone.
But don’t break out the champagne.
According to the European number crunchers Eurostat consumer prices across the 19 nation bloc were flat on a year earlier in March. The inflation rate was zero.
This means the eurozone remains very much within the deflationary danger zone.
The European Central Bank has been trying to break the grip of deflation – which can be lethal for economic growth – on the bloc for more than a year now.