March 5, 2018 / 11:33 AM / a year ago

Gauge of long-term euro zone inflation falls to three-month low

FILE PHOTO - The euro sign in front of the former headquarters of the European Central Bank (ECB) is reflected in a puddle during heavy rain in Frankfurt, Germany, November 20, 2017. REUTERS/Kai Pfaffenbach

LONDON (Reuters) - A key market gauge of long-term inflation expectations in the euro area fell to its lowest level in more than three months on Monday, extending recent falls as investors scale back expectations for a pick up in price pressures in the bloc.

Data last week showed inflation in the euro area slowed to a 14-month low in February to 1.2 percent.

The five-year, five-year breakeven inflation forward, tracked by the European Central Bank, fell to 1.6934 percent EUIL5YF5Y=R, its lowest level since late November. The ECB targets inflation at close to 2 percent.

Reporting by Dhara Ranasinghe, editing by Fanny Potkin

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