Eurozone inflation continues to fall

<p>Inflation in the eurozone is now close to a four-year low.</p>

Inflation in the eurozone has continued to fall in the latest official figures, closing in on a new four-year low for the measure.

According to data revealed by Eurostat, the official statistics office for the European Union, inflation in the eurozone is now down to 0.7 per cent.

This is the lowest point the measure has hit since February 2010, indicating the improved financial position of the continent in recent months.

The European Central Bank is now likely to come under increasing pressure to announce a further interest rates cut in the near future.

Despite the positive inflation news revealed by Eurostat, it also confirmed 60,000 more Europeans were unemployed in September.

The jobless rate for the 17-country bloc now stands at 12.2 per cent, which is the same level as it was in August.

Eurozone output improved in August, suggesting the economic recovery across the region may be gathering pace.

Eurostat's data showed output rose by one per cent in the month, which was in excess of the predictions made by analysts.

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