Eurozone inflation near five-year low

Berlin - The annual inflation rate in the eurozone slipped closer to zero in September as energy costs dropped sharply, the European statistics office Eurostat said on Thursday.

Consumer prices edged down to near a five-year low of 0.3% in September compared with 0.4% in August, Eurostat said, confirming data it released at the end of last month.

The drop pushed prices further away from the European Central Bank's target of an annual inflation rate of just below 2%.

Inflation in the eurozone has been edging down in recent months as the region's economy has struggled to regain traction after a protracted recession.

Consumer prices now stand at their lowest level since October 2009.