The euro has sold off further against the dollar following another fall in eurozone inflation in September.
According to data from Eurostat, the rate of consumer price inflation in the eurozone fell to 0.3 per cent this month, down from 0.4 per cent in August.
The drop was in line with analyst expectations but still has caused the euro to fall against major developed currencies this morning, continuing a slide against the dollar that has persisted for the past five months.
The data caused the euro to fall from 1.27 euros per dollar to 1.26, having been closer to 1.4 back in April.
The main drag on inflation continued to be energy, where prices fell by 2.4 per cent September, compared to a 2 per cent fall in August.
There was also a drop in the rate of inflation for the services and industrial sectors.
However, the food, alcohol and tobacco sector returned to an inflationary trend, having seen falling prices for the previous three months.
The slide in overall inflation to 0.3 per cent continues the downward trend that has seen the inflation rate fall from 1 per cent in September 2013 and has heaped pressure on the European Central Bank to act to prevent deflation.
