1 Feb 2011

Eurozone inflation rate rises to 2.4%

12:40 pm on 1 February 2011

Prices in the Eurozone are rising at the fastest rate in two years.

Inflation through the zone reached a rate of 2.4% in January, higher than analysts had expected and up from December's figure of 2.2%.

The increase takes inflation further away from the European Central Bank's target of just below 2%, the BBC reports.

The European Central Bank reviews interest rates this week, and, despite the latest data, some analysts expect the bank to leave rates unchanged in expectation of cooling inflation later this year.