Slovakia has became the third eurozone country to slide into deflation. <br /><br />In February consumer prices were down 0.1 percent from January. They also fell by the same amount from February last year. <br /><br />Slovakia joins Greece and Cyprus. They had annual deflation in January of around 1.5 percent. Portugal and Spain are hovering around zero. <br /><br />This puts more pressure on the European Central Bank to do something to prevent deflation spreading further in the eurozone.<br /><br />ECB President Mario Draghi doesn’t believe it is a threat though and has said there is no need for more stimulus right now. <br /><br />Many many economists disagree, including some at the International Monetary Fund. <br /><br />Euro zone inflation stood at 0.8 percent in January, far below the ECB’s target of just under 2.0 percent.<br /><br />Draghi has admitted that the longer inflation stays at such low levels, the harder it will be to get it back up to that target.
