Cyprus Mail

Euro area inflation rate rises to 1.8% in January, Eurostat says

The annual inflation rate in the euro area rose to 1.8 per cent in January, slightly below the European Central Bank’s medium-term target, from 1.1 per cent the month before, the European Union’s statistical office said.

The increase was mainly on more expensive transport fuel, heating oil and vegetables which rose an annual 14 per cent, 26 per cent and 9.8 per cent last month, Eurostat said in a statement on its website on Wednesday.

Belgium, with an inflation rate of 3.1 per cent, Latvia and Spain with 2.9 per cent reported the highest increases of consumer prices last month while Ireland, Cyprus and Slovakia were the euro area countries with the lowest inflation rates of 0.2 per cent, 0.7 per cent and 0.9 per cent, Eurostat said.

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