EU Inflation falls to 5 years low

The European Union’s struggle to avoid a period of falling consumer prices suffered a setback in September, as the annual rate of inflation across the bloc’s 28 members fell to its lowest level in five years. The EU’s statistics agency Thursday confirmed that across the 18 countries that share the euro, consumer prices rose by just 0.3% in the 12 months to September, the lowest annual rate of inflation since October 2009, and down from 0.4% in August. That confirmed a preliminary estimate released at the end of last month. But a more comprehensive set of figures showed consumer prices across the EU as a whole rose by 0.4% from September 2013, slowing from a 0.5% rise in the previous 12-month period, and the lowest annual rate of inflation recorded since September 2009. The figures showed that eight of the EU’s members recorded a decline in consumer prices over the 12 months, with five of those being members of the eurozone: Greece, Spain, Italy, Slovenia and Slovakia. The three EU members that don’t use the euro and which suffered the same fate were Bulgaria, Hungary and Poland, according to wsj.com