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Euro zone inflation drops to 0.3%

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Euro zone inflation drops to 0.3%

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Eurozone inflation has fallen to 0.3 percent, according to the latest EU figures.

The much expected slowdown in September is attributed to falling prices of unprocessed food and energy.

The European Union’s statistics office Eurostat said consumer prices in the 18 countries sharing the euro rose 0.3 percent year-on-year, slowing from 0.4 percent year-on-year increases in August and July.

The European Central Bank wants to keep headline inflation below, but close to, 2 percent over the medium term and the persistently low price growth underscores the bank’s difficulties in keeping inflation on target in a stagnating euro zone economy.