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Eurozone falls back into deflation in February 2016

1,551 views · Published 29 February 2016 · 3:52 · Indexed 17 October 2026

Channel: The 2% Brief · 2016 · People & Blogs

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Eurozone falls back into deflation in February 2016

Today is Monday 29th February 2016 and we are briefly commenting on today’s announcement that Consumer prices in the Eurozone fell sharply in February to minus 0.2%, placing additional pressure on the European Central Bank.

The slide into deflation is a sharp reversal from the revised 0.3% increase recorded in January. According to Eurostat, It is the first fall in inflation since September when it shrank by 0.1%.

The fall in Energy prices led the decline, with prices down 8% in February compared to a 5.4% decline in January; but this is not the first time inflation in the Eurozone has slid below zero, and although the price falls are driven by lower energy costs, according to the EU Statistical Agency the weakness is more widespread.

These poor figures mean that there is an increased chance of the ECB (European Central Bank) announcing further stimulus measures next month.

On the agenda will be a combination of additional quantitative easing measures – the purchasing of financial assets with newly created money - or taking some of the ECB's interest rates even further below zero.

Nordea economist Holger Sandte said: “no matter what the ECB decides to do on 10 March, inflation is likely to hover around zero during the next few months before it picks up - if oil prices behave well."

The G20 finance ministers and central bankers agreed on Saturday to use "all policy tools, monetary, fiscal and structural - individually and collectively" to renew growth, and we shall be covering this in a separate video.

What this means for gold? Well it reduces the opportunity cost of holding it. However it does not bode well for silver from the Industrial point of view because it is suggesting that world economies are falling even further.

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