Eurozone inflation rate falls in December

The annual inflation rate for the 12-nation eurozone fell to 2.1 per cent in December from 2.2 per cent the previous month, according to an initial estimate by Eurostat data agency released on Monday 5 January.

The annual inflation rate had been 2.0 per cent in October, the target ceiling set by the European Central Bank. Germany, the EU's biggest economy, said last month that its annual inflation for 2003 would be 1.1 per cent.