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A survey by the European Central Bank forecast on Thursday said, Eurozone inflation has “more or less” reached a trough and will start moving higher again in the next few years. There is widespread concern that the single currency area could be on the brink of deflation, but the ECB’s regular quarterly survey of professional forecasters suggested such fears are unwarranted. Inflation in the 18-country eurozone slowed to a meagre 0.4 percent in July, the lowest level since late 2009 and way off the ECB’s target of just under 2.0 percent.

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