The alarmingly low inflation of eurozone could create deflationary concerns in the region, but it is a sign that the eurozone is heading out of the crisis, as stated in U.S. economic network, CNBC, the head of the Eurogroup, Geroun Daiselbloom. The relatively low inflation is currently a part of the phase in which we are, which has to do with tackling long term economic problems, said the Council President th of eurozone finance ministers.
If we enhance our competitiveness, if we can reduce labor costs, which make many European countries at the moment, then it necessarily leads to a lower inflation, said Daiselbloom. He added that inflation is the lowest part of the economic recovery and restructuring, which is inevitable. In December, inflation in the euro area was only 0.8%, significantly lower than the target of 2% of the European Central Bank.
By Nicole P.