Current Affairs Global - 7 January 2015

1. Euro zone inflation has turned negative and the 18-member region falls into deflation. Prices dropped by 0.2% in December compared to previous month. This deflation will add more pressure on the European Central Bank (ECB) to take further action to stimulate the entire zone. Inflation turned into negative due to steep drop in energy prices and oil prices. This is the first time Eurozone witnessed deflation since financial crisis in 2009.