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ECB relieved as Eurozone announces flat inflation rate

ECB relieved as Eurozone announces flat inflation rate
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The EU’s statistics agency has revealed that eurozone inflation has been flat in the year up to March.

That is up on the initial estimate of a 0.1 percent fall and the 0.2 percent drop in February.

Price hikes in cafes and restaurants pushed the figures up.

The early Easter also had an impact and German inflation went up to 0.1 percent from 0.2 percent.

The numbers will provide some good news for the European Central Bank, which lives in fear of too-low or negative inflation that could lead to deflation.

Falling prices hurt economies as consumers delay purchases waiting for the lowest price.