The eurozone slipped closer towards deflation in September as the latest figures showed the rate of inflation in the region fell to 0.3 per cent.
Data released by Eurostat this morning showed the rate of annual inflation in the area had slipped from 0.4 per cent in August.
It is the lowest rate of inflation recorded in the eurozone since September 2009 and continues the steep decline in inflation from the reading of 1.3 per cent in September 2013 and 3 per cent in late 2011.
The breakdown of the data shows that Bulgaria and Greece suffered deflation of more than 1 per cent in September, while Spain and Italy also saw prices fall.
The falling price of energy was the main drag on inflation in September as the sector fell by 2.3 per cent.
However, the food, alcohol and tobacco sector managed to reverse several months of decline in September as prices rose by 0.3 per cent.
