Eurozone inflation fall to 0.7% in FebruaryMarch 17, 2014 - 20:29 AMT PanARMENIAN.Net - Inflation in the euro area fell to 0.7% in February, down from 0.8% in January, revised figures have shown, according to BBC News. The Eurostat estimate puts the inflation rate well below the European Central Bank target of just below 2%. The lower rate may reinforce concerns that the 18-nation eurozone risks a damaging period of deflation. However, the European Central Bank (ECB) is confident that eurozone economies are recovering from recession. Euro-area inflation started to fall from 3% at the end of 2011 and passed below the 2% mark at the beginning of 2013. Deflation, or falling prices, can encourage businesses and consumers to delay spending and wait for possible bargains, inhibiting economic growth. The ECB expects inflation to gradually increase to 1% in 2014, before reaching its target 2% in 2016. Earlier this month, the ECB forecasted a gradual increase in economic growth in the eurozone to 1.8% in 2016. Related links: Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Titus, Bilirakis lead legislation to sanction Azerbaijani war criminals Representatives Dina Titus (D-NV) and Gus Bilirakis (R-FL) have introduced the bipartisan legislation. Azerbaijan must respect human rights, Scholz tells Aliyev German Chancellor Olaf Scholz has called for greater respect for human rights in Azerbaijan. Armenia: Defense Ministry warns against involving army in political processes The Ministry’s statement came after a video surfaced online, showing soldiers joining the protests in Tavush. Scholz hopes Armenia-Azerbaijan peace treaty will be signed this year German Chancellor Olaf Scholz hopes that a peace treaty between Armenia and Azerbaijan will be signed this year. |