adminovershooting for more than two years, EU data showed.
Marking good news for leaders of the 17-state currency area preparing for next week’s European Union summit, the drop from 2,2 percent in December took the measure of annual price rises to the lowest level since 1,9 percent in November 2010.
Separately, chronic and rising unemployment across the eurozone appeared to stabilise in December at a rate of 11,7 percent.
However, the latest EU data still showed almost 19 million people without work in what analysts warned remains a major challenge to political leaders struggling to generate meaningful growth.
The ECB has established a medium-term inflation target of below, but close to, 2,0 percent.
The Eurostat data agency’s flash estimate approached that threshold owing to easing pressure on energy prices, which rose by 3,9 percent in January, down from 5,2 percent in December.
Food, alcohol and tobacco inflation was also stable, at 3,2 percent, with slight drops in price rises for services (1,7 percent compared with 1,8 percent in December) and non-energy industrial goods (0,8 percent compared with 1,0 percent in December). – AFP.
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