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Mixed picture from euro zone data
31 Jul 2014 18:06
Inflation across the eurozone has fallen to its lowest level since October 2009.
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According to figures from the EU statistics agency, prices in the single currency area rose by just 0.4% in July compared to 0.5% in June.
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The ECB considers that an inflation rate of below 1% poses a risk of deflation.
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Prices have risen at an annualised rate of less than 1% for the last ten months.
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The finding will put further pressure on the European Central Bank to introduce new measures to try to lift the bloc out of a low inflation spiral.
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The ECB introduced a suite of measures in recent months, including negative deposit rates and a cut in the main refinancing rate to a record low of 0.15%.
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It's thought likely that Mario Draghi and his team will wait until closer to the end of the year before introducing any new measures, such as quantitative easing.
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