Eurozone Inflation up to 2.4%

The eurozone's inflation rate rose to 2.4% in January, which was 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 data may increase pressure on the ECB ahead of a meeting this week when it is due to review interest rates.

However, some analysts expect the bank to leave rates unchanged in expectation of cooling inflation later this year.

http://www.bbc.co.uk/news/business-12323587

Thanks for posting this. It's a cause for concern alright. Given that the ECB have a track record of flagging their intentions to move rates a few months in advance using the language in Trichet's speeches, I hope that rate increases are some way away yet.