Annual inflation rate slows further in eurozone

Jan. 16, 2014 at 9:36 AM

BRUSSELS, Jan. 16 (UPI) -- The annual inflation rate in the eurozone dropped to 0.8 percent in December, the region's data office Eurostat confirmed Thursday.

The official statistics office for the European Commission said in the second of two estimates that the inflation rate was lowest in Greece in December with a decline of 1.8 percent.

Three other nations in Europe posted deflation figures for December, including Cyprus at minus 1.3 percent Bulgaria at minus 0.9 percent and Latvia at minus 0.4 percent.

The highest annual rates in December were in Britain, Austria and Estonia, each with inflation of 2 percent.

For the larger European Union, the annual rate in December was 1 percent, unchanged from November.

The eurozone, countries that share the euro as a common currency, expanded to 18 members in January with the addition of Latvia.

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