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Euro-Area Factories Cut Prices at Fastest Pace Since 2013

Euro-area factories cut prices at the fastest pace in almost three years in February, compounding an already worrisome inflation environment for the European Central Bank.

Markit Economics said the price gauge of its manufacturing Purchasing Managers Index fell further below the key 50 level, dropping to the lowest since June 2013. All countries bar one in its monthly survey reported falling output prices, including Germany, France and Italy, the region’s three largest.