Consumer prices in the eurozone fell annually in September for the first time since the European Central Bank launched its program of government bond purchases in March, increasing pressure on policy makers to counter the renewed threat of a slide into deflation with even more stimulus. The 0.1% drop from year-ago levels was driven largely by lower energy costs, suggesting that consumer prices could steady in the months to come amid a stabilization in oil prices. But the renewed decline raises the specter of deflation—a sustained and self-reinforcing fall in prices that could stifle consumer spending and make it more difficult for European governments and businesses to repay debts. Still, combined with a weaker euro, lower energy costs could also provide a fillip to the eurozone’s modest recovery. European consumers and companies, which rely on energy imports and exports of goods, stand to be among the main beneficiaries of […]