According to Eurostat, euro area annual HICP inflation was –0.2% in December 2014, after 0.3% in November. This decline mainly reflects a sharp fall in energy price inflation and, to a lesser extent, a decline in the annual rate of change in food prices.
Bula Vinaka and a very good morning to you all! Introductory remarks Let me say how delighted I am to deliver the keynote address this morning.