Inflation in the US and Eurozone Falls

Lowest level in years

Inflation in both the 17-strong eurozone bloc and the US has fallen to its lowest level in years.

The eurozone figure, for April fell to 1.2% - a three-year low. US inflation was running at 1.1% - a two-year low. Both countries target inflation at 2%.

In both cases the prime cause of the fall was a lower oil price, which is down from just less than $120 a barrel in March to about $93 a barrel now.