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.