Eurozone inflation holds at less than 1 percent

Feb. 24, 2014 at 1:36 PM
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BRUSSELS, Feb. 24 (UPI) -- The annual inflation rate held at 0.8 percent in the eurozone in January, the European Commission's data agency said Monday.

Inflation came in a tick higher than the flash estimate, but the figure is still a concern for policy makers and economists. A year earlier, the rate was 2 percent, the target set by most major central banks as a sign of a healthy economy, where prices are neither stagnant nor rising precipitously.

In the larger European Union, annual inflation was 0.9 percent in January, Eurostat said -- down from 1 percent in December 2013. Twelve months earlier, the inflation rate for the EU was 2.1 percent.

Monthly inflation was minus 1.1 percent in the eurozone in January. It was minus 0.9 percent in the EU, the data agency reported.

The highest inflation rates in the EU were in Estonia, up 3.1 percent, Romania, up 2.9 percent and Britain, up 2.5 percent. The lowest rates were posted by Greece, down 1 percent, Latvia, which reported flat prices and Bulgaria and Cyprus with rates of 0.1 percent.

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