ET:Euro zone inflation pressures ebb to 35-month low: ECRI
BANGALORE: Euro zone inflation is likely to fall further as price pressures eased close to a three-year low in January, an indicator designed to predict cyclical trends showed on Friday.
The Eurozone Future Inflation Gauge ( EFZIG), published by the Economic Cycle Research Institute, dropped to 92.1 from December's 92.6, as similar national indicators fell in Germany, France and Italy but nudged up in Spain.
"The EZFIG remains in a sustained cyclical downtrend, falling in its latest reading to a 35-month low. Thus, euro zone inflation is likely to wane further in the coming months," Lakshman Achuthan, ECRI's chief operations officer, said.
Inflation in the 17-nation currency bloc eased to 1.8 per cent in February, flash data last week showed. A Reuters poll published last month predicted inflation would remain around that for most of this year.
