EU cuts 2016 inflation forecast to 0.5%
The European Commission on Friday reduced the inflation forecast for the 19-nation region for 2016 to 0.5% from the 1% forecasted in November last year. The growth was also trimmed down to 1.7% from 1.8%. Slower growth in emerging markets like China and geopolitical tensions in Europe's neighbourhood are affecting EU's growth, Vice-President for the Euro and Social Dialogue said. 