Eurozone inflation slumps to record zero
Consumer prices in the 16 countries using the euro stagnated in May as inflation fell to a record low of zero in the face of a recession, official EU data showed on Tuesday.
The Eurostat figures, which confirmed a first estimate, left 12-month eurozone inflation at the lowest point on records going back to 1996 and down sharply from the 0.6 percent that the agency booked in April.
After hitting a record high point of 4.0 percent last June and July, eurozone inflation has fallen sharply as oil and other commodity prices have collapsed in the face of a dire economic downturn.
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