Eurozone inflation rate remains below zero in March, Eurostat saysMarch 31, 2016 - 14:20 AMT PanARMENIAN.Net - In spite of a modest improvement in inflation that had its roots in the services sector, consumer prices across the 19-country eurozone fell in the year to March for the second month running, official figures showed Thursday, March 31, according to the Associated Press. In its estimate for the month, Eurostat, the European Union's statistics agency, said the headline inflation rate was minus 0.1 percent against the previous month's reading of minus 0.2 percent. The modest uptick was in line with market expectations following recent figures showing a solid pick-up in German inflation. Eurostat said the services sector is likely to have had the biggest impact in nudging up the headline rate, while energy prices once again provided the biggest drag. One development that may cheer policymakers at the European Central Bank was the news that the core rate, which strips out the volatile items of food, alcohol, energy and tobacco, rose to 1 percent from 0.8 percent, AP says. Still, both rates remain well below what the ECB wants — inflation at just below 2 percent. The ECB has enacted a series of stimulus measures, such as cutting interest rates and buying government bonds in the markets, in order to get inflation back to target. Since the last stimulus package was announced this month, few analysts think the central bank will do anything further soon. But in the longer-term, many economists think the ECB may have to do more, AP says. 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 | Armenian, Iranian foreigh policy chief talk over the phone The Foreign Minister of Armenia once again expressed condolences to his counterpart on the death of the President of Iran. Armenia, U.S. customs authorities to boost assistance with new deal The government has approved an agreement with the U.S. government on mutual assistance between the customs authorities. Armenian government besieged by protesters Protesters led by Archbishop Bagrat Galstanyan poured into Yerevan’s Republic Square to try to surround the seat of Armenia’s government. EU calls on Azerbaijan to release all political prisoners The European Union calls on Azerbaijan to release all those imprisoned for exercising their fundamental rights. |