Eurozone inflation rate remains below zero in March, Eurostat saysMarch 31, 2016 - 14:20 AMT PanARMENIAN.Net - In spite of a modest improvement in inflation that had its roots in the services sector, consumer prices across the 19-country eurozone fell in the year to March for the second month running, official figures showed Thursday, March 31, according to the Associated Press. In its estimate for the month, Eurostat, the European Union's statistics agency, said the headline inflation rate was minus 0.1 percent against the previous month's reading of minus 0.2 percent. The modest uptick was in line with market expectations following recent figures showing a solid pick-up in German inflation. Eurostat said the services sector is likely to have had the biggest impact in nudging up the headline rate, while energy prices once again provided the biggest drag. One development that may cheer policymakers at the European Central Bank was the news that the core rate, which strips out the volatile items of food, alcohol, energy and tobacco, rose to 1 percent from 0.8 percent, AP says. Still, both rates remain well below what the ECB wants — inflation at just below 2 percent. The ECB has enacted a series of stimulus measures, such as cutting interest rates and buying government bonds in the markets, in order to get inflation back to target. Since the last stimulus package was announced this month, few analysts think the central bank will do anything further soon. But in the longer-term, many economists think the ECB may have to do more, AP says. 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 | Scholz hopes Armenia-Azerbaijan peace treaty will be signed this year German Chancellor Olaf Scholz hopes that a peace treaty between Armenia and Azerbaijan will be signed this year. Ucom equips four bus stops in Ijevan with free Wi-Fi Ucom now provides free Wi-Fi coverage in smart bus stops in four communities of Ijevan. Armenians stage more campaigns against territorial concessions to Azerbaijan Protesters blocked more roads across Armenia on Friday, April 26 in continuing attempts to scuttle territorial concessions to Azerbaijan. 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. |