Deflation in the euro zone eased in March, according to official data published Tuesday, prompting hopes that the region's trillion-euro stimulus program was taking effect.
Prices fell 0.1 percent year-on-year in March, according to flash estimates released by Eurostat, in line with forecasts. It comes after a 0.3 percent decline in prices in February.
Deflation took hold in the euro zone for the first time since 2009 in December, as prices slipped 0.2 percent year-on-year. Things got worse in January, when data revealed that prices had fallen 0.6 percent on an annual basis.
The inflation figures are the first since the European Central Bank's (ECB) launched its 1 trillion euro ($1.07 trillion) quantitative easing (QE) program, in an effort to boost the euro zone economy.