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 | Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty. Armenia offers to temporarily host, preserve Gaza manuscripts The Armenian Foreign Minister has said Yerevan is ready to help preserve manuscripts from the conflict zone in Gaza. Aliyev says no need for mediators in Armenia-Azerbaijan process Azerbaijani President Ilham Aliyev believes that Baku and Yerevan do not mediators in the process of normalizing relations. Aram I supports Karekin II’s “patriotic position” Catholicos of the Great House of Cilicia Aram I has expressed support for the Mother See of Holy Etchmiadzin. |