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1 April, 2020 00:00 00 AM

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Eurozone inflation falls to 0.7pc on plunging energy prices

AFP, Brussels

Inflation in the eurozone fell in March, official data showed yesterday, reflecting a major drop in energy prices as oil demand plummeted because of the coronavirus outbreak. The inflation rate was 0.7 per cent in March, according to the EU's Eurostat agency, compared to 1.2 per cent in February, falling even further below the European Central Bank's target of near two per cent.

In the midst of the coronavirus pandemic, energy prices dropped a sharp 4.3 per cent in the 19-country single currency bloc. The world's oil markets have been collapsing for several weeks as a result of the coronavirus crisis and the drastic movement restrictions implemented by governments to fight the pandemic.

 

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Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
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Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

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