Eurozone annual consumer prices fall in Feb: EurostatMarch 2, 2015 - 16:08 AMT PanARMENIAN.Net - The fall in consumer prices across the 19-country eurozone eased in February, official figures showed Monday, March 2, in a development that will likely assuage market concerns that the region is set to suffer a pronounced period of deflation, the Associated Press reports. Eurostat, the EU's statistics agency, said annual consumer prices fell 0.3 percent in February compared with a year earlier, half the rate recorded in January. The decline was also slightly less than anticipated — the consensus in the markets was for minus 0.4 percent. Still, the eurozone has suffered a drop in prices for three consecutive months and getting inflation back toward target remains the European Central Bank's primary policy motive. It's due to start a massive bond-buying program this month as part of a drive to get inflation back toward its target of just below 2 percent. Proponents of the stimulus, which is set to be worth around a trillion euros ($1.12 trillion), say the policy can help shore up the recovery in the eurozone and support prices by reducing the borrowing costs for businesses, households and governments. The associated fall in the currency — the euro is trading at near decade-lows against the dollar — could also help boost growth by making exports cheaper and push prices up by making imports more expensive. In a separate encouraging development, Eurostat reported that unemployment across the eurozone fell to 11. 2 percent in January, its lowest level since April 2012. Though the rate masks huge divergences across the region, it's another indicator showing that the eurozone's economic recovery is gaining some momentum. Compared with December 2014, the number out of work fell by 140,000. 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. |