There is confirmation that eurozone inflation last month fell to its lowest level since November 2009.<br /><br />Year-on-year the inflation rate was just half of one percent, down from February’s 0.7 percent.<br /><br />Prices fell for heating oil, telecommunications and fuel. They rose for tobacco products and in restaurants and bars as well as for milk, cheese and eggs. <br /><br />That keeps pressure on the European Central Bank to intervene to prevent deflation and stagnation. <br /><br />Annual inflation was negative in eight of the 18 eurozone countries. In Greece it was down 1.5 percent. and Cyprus it was minus 0.9 percent. <br /><br />By contrast inflation rates in Austria (+1.4 pct), Malta (+1.4 pct) and Germany (+0.9 pct) were nearer to the ECB’s target of close to but below 2.0 percent.<br /><br />Inflation has now been in the ECB’s “danger zone” of below 1.0 percent for six consecutive months,
