Inflation in the eurozone dropped to 0.8% in December, down from 0.9% in November.
The flash estimate from Eurostat was too early to provide a breakdown by country.
The target rate for the European Central Bank remains at just below 2%. In November, the Bank lowered its benchmark interest rate to a record low of 0.25%.
It took the action after October’s rate of 0.7% was the first time inflation fell below 1% since February 2010.
Analysts warn that the existing low inflation rates could bring the region into a period of deflation caused by consumers putting off buying items in the hope that prices will continue to drop.
With wage rises on hold and high unemployment in the eurozone could continue to force down prices further.
The ECG president said it is important for inflation not to remain permanently below 1%, but added there was no need for a further cut in interest rates.
