Inflation drops to annual 1% within EU

Inflation in the 11 states which will launch the euro tomorrow fell to an annualised 0.9 per cent between October and November - a year ago it was running at 1.6 per cent. Inflation among the 15 member-states of the EU is running at 1.0 per cent.

The figures released by Eurostat yesterday, based on harmonised indices, show Ireland's previously published figure among the highest at 2.2 per cent, down significantly by 0.4 per cent on the October figure, and below Portugal (2.6 per cent) and Greece (3.9 per cent).

The lowest rates in the Union were to be found in Sweden (0.1 per cent) and France (0.2 per cent).