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| Eurozone inflation falls to 0.4% in July | Eurozone inflation falls to 0.4% in July |
| (35 minutes later) | |
| Eurozone inflation has fallen to its lowest level since the height of the financial crisis, adding pressure on the European Central Bank (ECB) to act again to boost the economy. | Eurozone inflation has fallen to its lowest level since the height of the financial crisis, adding pressure on the European Central Bank (ECB) to act again to boost the economy. |
| Prices rose in the single currency area by 0.4% in July, from 0.5% in June. | Prices rose in the single currency area by 0.4% in July, from 0.5% in June. |
| The ECB considers an inflation rate of below 1% to be in a "danger zone" posing a threat of deflation. | The ECB considers an inflation rate of below 1% to be in a "danger zone" posing a threat of deflation. |
| Separate figures show that unemployment in the region fell slightly to 11.5% in June compared to 11.6% in May. | Separate figures show that unemployment in the region fell slightly to 11.5% in June compared to 11.6% in May. |
| The new inflation figures from the European Union's statistical office, Eurostat, show that it remains persistently below the ECB's target rate of 2%. Prices have risen at an annualised rate of less than 1% for the last ten months. | |
| In June the ECB introduced a package of measures to boost growth and tackle the threat of inflation. | |
| It cut interest rates, including reducing the bank deposit rate to below zero, and made available cheap long term loans to banks. It promised to stand ready to take more action if inflation continued to fall. | |
| Analysis: BBC economics correspondent, Andrew Walker | |
| There are concerns among European economic policy makers that the eurozone might be heading for deflation or falling prices. | |
| That can exacerbate economic weakness and aggravate debt problems - even if prices and wages fall, debts do not. | |
| Some individual eurozone countries have seen prices fall, including Greece and Portugal. | |
| The further slowing of price rises for the eurozone as a whole increases the chances that the European Central Bank will embark on the policy known as quantitative easing - often described as printing money. |