Mettis Global News
Mettis Global News
Mettis Global News
Mettis Global News

Trending :

Eurozone inflation falls sharply amid slowdown fears

Share on facebook
Share on twitter
Share on linkedin
Share on whatsapp

June 4: Eurozone inflation dropped sharply to 1.2 percent in May, data showed on Tuesday, raising the spectre of a global economic slowdown.

Analysts surveyed by data company Factset had predicted a more modest drop in inflation to 1.4 percent, down from the 1.7 percent logged in April.

The latest data puts consumer prices in the 19-nation single currency bloc even further from the European Central Bank's inflation goal of just below 2.0 percent.

Eurozone unemployment meanwhile dropped to 7.6 percent in April, down from 7.7 percent in March.

This marked the lowest rate recorded in the 19-nation single currency bloc since August 2008.

The drop in consumer prices landed a day after data showed that factory output in the eurozone fell close to a six-year low in May.

AFP/APP

Posted on: 2019-06-04T15:21:00+05:00

28292