Consumer prices in the euro zone were flat in March year-on-year after falling 0.2 percent in February. The European Union's statistics agency Eurostat said Thursday that the annual rate of inflation was 0.0 percent in March, compared with a previous flash estimate of -0.1 percent. 

Headline inflation was flat because the collapse of energy prices was offset by an increase of prices in all other components. Prices in the services sector, the largest in the euro zone, went up 1.4 percent. 

Eurostat said the largest upward impact on euro area inflation came from restaurants and cafes, package holidays and property rents, while the main drags were from various fuels.