Eurozone inflation stable at low level in January

Staff Writer
Columbus CEO

BRUSSELS (AP) — Official figures show the inflation rate for the 18-nation eurozone remained steady at a low 0.8 percent in January.

The data provided Monday by Eurostat, the EU's statistics office, show inflation remains well below the European Central Bank's target of just below 2 percent.

The rate, which measures consumer price increase over 12 months, was the same as in December.

Low inflation in recent months has raised concerns of deflation, a sustained drop in prices that can choke off growth. The weak rate will keep pressure on the ECB to provide more stimulus to the economy.

Eurostat says the annualized inflation rate for the wider 28-nation European union — which includes members like Britain that don't use the euro — fell to 0.9 percent from 1 percent in December.