IT'S A DEFLATIONARY EPOCH:

Consumer prices fell by 0.2% in February, pulled down by the plunging cost of energy. That's the first time inflation has turned negative since September last year.

Equally troubling the European Central Bank and its president Mario Draghi will be the drop in "core inflation" to 0.7% from 1% in January. That measure strips out energy prices, which tend to bounce around month to month.

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