Posted on 06/30/2009 11:33:57 AM PDT by pissant
The eurozone's annual rate of inflation turned negative in June for the first time since the single currency was introduced in 1999.
Prices in the 16-nation zone fell 0.1% in the past year, Eurostat said. The inflation rate had been 0% in May.
Inflation in the eurozone has been dragged down by lower energy and food prices, and by falling demand for goods from companies and households.
The European Central Bank's target rate for inflation is just below 2%.
(Excerpt) Read more at news.bbc.co.uk ...
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