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Euro-area consumer prices fell less than economists forecast last month, offering some relief to the European Central Bank (ECB) as it prepares to put its unprecedented bond-buying program into action.

The annual rate of inflation in the 19-nation bloc stood at minus 0.3 percent in February, according to data published by the European Union’s statistics office in Luxembourg on Monday. Economists in a Bloomberg survey predicted a price decline of 0.4 percent after a 0.6 percent slump the previous month. Unemployment fell to 11.2 percent in January, the lowest since April 2012, according to revised Eurostat data.

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