17th March 2014
Consumer price index inflation across the eurozone returned to its slowest ever annual pace last month, according to revised data published today (March 17th).
The Eurostat figures show the rate fell to 0.7 per cent in February, down from 0.8 per cent in the previous month, sending the shared currency lower in forex trading markets.
When the figure initially fell to this level in October, it spurred the European Central Bank into introducing a surprise interest rate cut in the following month. President Mario Draghi shocked markets when he announced the bank was slashing borrowing costs to the record-low level of 0.25 per cent.
Eurostat's initial estimate suggested inflation stood at 0.8 per cent last month, in line with the consensus estimate. When compared to the previous month, consumer prices were up by 0.3 per cent.
Following the release of the data, the euro was down by 0.12 per cent versus the dollar at $1.3897 as of 11:00 GMT.
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