According to the latest figures released, the annual inflation in the Eurozone comprising 17 countries fell to 1.8 per cent during the month of February.

The lower inflation and the higher unemployment rate ever indicate that the Eurozone economies are still facing the effects of the debt crisis. The data from the EU's statistics office Eurostat showed that groups annual inflation fell more than expected to 1.8 per cent, which is mostly in-line with the European Central Bank's target of below 2 per cent.

The Eurostat also said that the unemployment rate in the common currency region rose 11.9 per cent compared to 11.8 in December. This means that an additional 201,000 people were without work in the bloc during the month. The weak data is likely to influence the ECB's Governing Council during its next meeting.

Experts say that it is possible that the bank's benchmark rate would be cut below the current 0.75 per cent as consumer inflation is not a major issue for the lawmakers at this time amid prolonged debt crisis and high unemployment.

Economists in a Reuters poll had predicted an inflation rate of 1.9 per cent for February.