Tuesday, according to a flash estimate from the Eurostat, Eurozone annual inflation slowed to 0.6% in March from 1.2% in February. Inflation has eased to its lowest level since the launch of euro ten years ago.

The central bank targets inflation rate of below, but close to 2% over the medium term. In March 2009, the European Central Bank had lowered its key interest rate by half a percent to a record low of 1.5%, as economic slowdown deepened.

The statistical office is set to release the final report on April 16.

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