Eurozone inflation rate revised up to zero in March

Staff Writer
Columbus CEO

LONDON (AP) — The latest bout of falling prices across the 19-country eurozone has ended— after just a single month.

Revised figures from the European Union's statistics agency show that inflation was flat in the year to March. That's up from the initial estimate of a 0.1 percent fall and February's 0.2 percent annual drop.

Eurostat said Thursday that the biggest upward contributor to inflation came from restaurants and cafes while gas prices had the largest downward impact.

The upward revision is likely to cheer policymakers at the European Central Bank, who have backed a series of stimulus measures to get inflation back to the target of just below 2 percent.

The core rate, which strips out the volatile items of food, alcohol, energy and tobacco, was unchanged at 1 percent.