Eurozone inflation fall to 0.7% in FebruaryMarch 17, 2014 - 20:29 AMT PanARMENIAN.Net - Inflation in the euro area fell to 0.7% in February, down from 0.8% in January, revised figures have shown, according to BBC News. The Eurostat estimate puts the inflation rate well below the European Central Bank target of just below 2%. The lower rate may reinforce concerns that the 18-nation eurozone risks a damaging period of deflation. However, the European Central Bank (ECB) is confident that eurozone economies are recovering from recession. Euro-area inflation started to fall from 3% at the end of 2011 and passed below the 2% mark at the beginning of 2013. Deflation, or falling prices, can encourage businesses and consumers to delay spending and wait for possible bargains, inhibiting economic growth. The ECB expects inflation to gradually increase to 1% in 2014, before reaching its target 2% in 2016. Earlier this month, the ECB forecasted a gradual increase in economic growth in the eurozone to 1.8% in 2016. Related links: Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Czech-Armenian military cooperation discussed in Yerevan A delegation led by the Director General for the Industrial Cooperation Division of the Ministry of Defence of the Czech Republic visited Armenia. U.S. welcomes efforts to define Armenia-Azerbaijan border The United States welcomes efforts to define the border between Armenia and Azerbaijan, says Vedant Patel. Biden honors resilience of Armenian people on April 24 U.S. President Joe Biden has issued a statement on the 109th anniversary of the Armenian Genocide. Ex-Karabakh leader moved to solitary confinement cell in Baku, his son says David Vardanyan is the son of former Karabakh leader Ruben Vardanyan who who is currently imprisoned in Azerbaijan. |