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Home >> Business
UPDATED: 08:07, March 01, 2006
Eurozone inflation rises to 2.4 percent in January
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Inflation in the 12-nation eurozone rose to 2.4 percent in January from 2.2 percent the previous month, the European Union's Eurostat data agency said Tuesday.

The hike was mostly attributed to fuel for transport, heating oil and gas, Eurostat said.

Economists widely expect the European Central Bank to raise the key interest rate for the 12 nations using the euro to 2.5 percent on Thursday to dampen the inflation.

The ECB, in an attempt to keep price stability, raised its key interest rate for the eurozone to 2.25 percent from 2 percent in December, the first increase in five years.

The ECB's preferred level for inflation is less than but close to 2 percent.

Inflation in the entire European Union edged to 2.2 percent in the first month of this year from 2.1 percent in December.

Source: Xinhua

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