EU says inflation is way down

Detroit News.Net
Sunday 30th November, 2008

The European Union statistics office has announced that countries that use the Euro as their common currency have reduced inflation.

Consumer price inflation dropped 1.1 percent last month to its lowest level in more than a year in the EU.

Inflation stands at just more than two percent.

The unemployment rate in the 15 Eurozone countries reached 7.7 percent in October, the highest in almost two years.

Spain had the biggest unemployment increase, with the jobless rate approaching 13 percent last month.

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