Eurozone Inflation Slows As Estimated

(RTTNews) - Eurozone inflation slowed in January due to the sharp fall in energy prices, final data from Eurostat showed Wednesday.

The harmonized index of consumer prices rose 1.7 percent on a yearly basis in January, in line with estimate released on February 4. This followed December's 2.0 percent increase.

Excluding volatile prices of energy, food, alcohol and tobacco, core inflation slowed marginally to 2.2 percent from 2.3 percent a month ago. The figure matched the earlier estimate.

On a monthly basis, the HICP was down 0.6 percent in January.

Data today showed that services cost registered its biggest annual increase in January, up 3.2 percent. This was followed by a 2.6 percent rise in food, alcohol and tobacco prices.

Meanwhile, energy prices declined at a faster pace of 4.0 percent. Non-energy industrial goods prices posted an annual growth of 0.4 percent.