Euro inflation up as value falls against dollar
(BRUSSELS) - Inflation increased across continental Europe in January, official figures showed on Friday, just as the euro loses ground against the dollar.
Consumer prices in the 16 eurozone countries crept up by 1.0 percent compared to a year earlier, according to figures from the Eurostat data agency, although the rise in the eurozone was much less steep than in December.
The increase came during a period when the value of the euro slipped considerably from a peak of 1.50 dollars -- it is currently trading at under 1.40 dollars.
Prices had risen by 0.9 percent in the run-up to Christmas, at that stage a sharp increase from the 0.5 percent reading for November which marked the first time that prices, on a 12-month basis, had risen since April.
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