FXstreet.com (Barcelona) - Consumer inflation has been growing at the slowest pace in the last ten years in the Euro Zone in December, according to preliminary data released by Eurostat.

Inflation has dropped to a 1.1% year on year growth rate in December, down from 1.6% in November. Economists had advanced a softer decline, to levels around 1.4% year on year.

Inflation has dropped fast in the last six months, after having peaked at 4.0% in July, consumer prices are now growing well below the upper limit of the ECB's margin for price stability, which has arisen fears about a period of deflation in the Euro Area, a picture that, so far, the European Central Bank denies.