Eurostat, the European Union
's statistics agency, said Friday that consumer prices across the eurozone were 1.4 percent higher in the year to December, down from 1.5 percent the month before. The decline was expected in financial markets and means that inflation remains well below the European Central Bank's policy goal of just below 2 percent.
Of perhaps more concern to policymakers at the ECB is the fact that the core rate, which strips out volatile items such as food and energy, remained even lower at 0.9 percent. That suggests that the economic rebound in the eurozone has yet to materially affect wages.