DEFLATIONARY pressures increased for the Eurozone last month as prices in January fell 0.6% compared to 2013 levels.

BBC Business reports that the figure recorded across the 19 member countries shows the Eurozone heading deeper into deflationary territory from December, when prices were 0.2% down on the year before.

A large contributor to falling prices is the cost of energy, with oil prices down almost 60% on the middle of last year with Energy prices plunging 8.9% in January.

Appointed Representative Opportunities with Wessex Fleet

Have you thought about growing your broker business? Are you looking for opportunities for growth? Then why not consider joining Wessex Fleet as an Appointed Representative?

Discover More

Keeping you on the move with leasing solutions tailored to your needs

Leasys is the proud Contract Hire partner of the Stellantis brands, offering mobility solutions from medium and long-term rentals to management systems for company fleets.We work with Brokers to support all their customers requirements.

Discover More

Accelerate your business with QV Systems & Leaselink

Unlock unparalleled efficiency in vehicle procurement with QV Systems’ Accelerate, now seamlessly integrated with Ebbon Automotive’s Leaselink. Tailored for brokers and funders, this integration streamlines the entire process from quote to delivery, empowering you to effortlessly source and order vehicles for your clients.

Find out more

However, if food and energy are stripped out of the calculations, Eurozone prices were still rising at an inflation rate of 0.5%, down from 0.7% the month before.

The Eurozone has only once before experienced deflation at these levels, in July 2009, as the region first went into recession following the financial crisis.

Last week the European Central Bank (ECB) launched a programme aimed at pushing prices back up – known as quantitative easing – through which it injected around €1Tln euros into the economy.
ends