BRUSSELS — Sharp falls in energy prices as a result of the dramatic decline being recorded in oil markets has pushed inflation across the 18-country eurozone down to 0.3 percent in the year to November.
Preliminary figures from the European Union's statistics agency, Eurostat, show that the fall in eurozone consumer price inflation from the previous month's 0.4 percent was largely due to a 2.5 percent decline in energy costs.
The drop takes inflation further away from the European Central Bank's target to keep price rises just below 2 percent. It's likely to maintain pressure on policymakers to launch in the coming months a monetary stimulus similar to the one the Federal Reserve recently brought to an end.
Eurostat also said Friday that unemployment was steady in October at 11.5 percent.