Low inflation raises the pressure on ECB to act

Inflation remains stubbornly low in several eurozone states, according to data released yesterday which keeps pressure on the ECB to unveil new steps to stoke the moribund economy.

Price rises in Germany, Europe’s biggest economy, remained at ultra-low levels for the third month in a row in September.

A flash estimate released by federal statistics office Destatis showed German inflation this month stood at just 0.8% year-on-year, unchanged since July. The last time it was lower was in February 2010.