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| Eurozone inflation slows to five-year low in September | Eurozone inflation slows to five-year low in September |
| (35 minutes later) | |
| Eurozone inflation slipped again in September, with prices rising at their slowest rate in nearly five years. | Eurozone inflation slipped again in September, with prices rising at their slowest rate in nearly five years. |
| Consumer price inflation rose by just 0.3% in September compared to the same month last year, slowing from August's 0.4% rise, said EU statistics agency Eurostat. | Consumer price inflation rose by just 0.3% in September compared to the same month last year, slowing from August's 0.4% rise, said EU statistics agency Eurostat. |
| It is the lowest level for eurozone inflation since October 2009. | It is the lowest level for eurozone inflation since October 2009. |
| Eurostat said falls in the prices of unprocessed food and energy had driven the overall slowdown. | Eurostat said falls in the prices of unprocessed food and energy had driven the overall slowdown. |
| Unprocessed food prices fell 0.9% year-on-year, while energy dropped 2.4%. | Unprocessed food prices fell 0.9% year-on-year, while energy dropped 2.4%. |
| Inflation has remained persistently below the European Central Bank's (ECB) 2% target rate, leading to fears of prices tipping into a deflationary spiral. | Inflation has remained persistently below the European Central Bank's (ECB) 2% target rate, leading to fears of prices tipping into a deflationary spiral. |
| Earlier this month, the European Central Bank cut its benchmark interest rate to 0.05%, and introduced new stimulus measures in an attempt to kick-start the eurozone economy. | |
| However, the dramatic move fell short of a programme of buying government bonds - a process known as quantitative easing (QE), and one which the US Federal Reserve has undertaken. | However, the dramatic move fell short of a programme of buying government bonds - a process known as quantitative easing (QE), and one which the US Federal Reserve has undertaken. |
| Hargreaves Lansdown senior economist Ben Brettell said inflation was now "perilously close to zero", and put pressure on the ECB to do even more. | Hargreaves Lansdown senior economist Ben Brettell said inflation was now "perilously close to zero", and put pressure on the ECB to do even more. |
| "Today's drop in consumer price inflation heaps further pressure on Mario Draghi to engage in QE. I believe he will succumb to this pressure eventually," he added. | "Today's drop in consumer price inflation heaps further pressure on Mario Draghi to engage in QE. I believe he will succumb to this pressure eventually," he added. |
| Mr Draghi is expected to give further details of the ECB's new stimulus measures when its governing council meets on Thursday. | Mr Draghi is expected to give further details of the ECB's new stimulus measures when its governing council meets on Thursday. |
| Separately, Eurostat also reported that unemployment in the eurozone remained steady at 11.5% in August, unchanged from July. | Separately, Eurostat also reported that unemployment in the eurozone remained steady at 11.5% in August, unchanged from July. |