Investing.com - Inflation in the euro zone slowed in January but was not as slow as first thought, data confirmed on Friday
The bloc’s statistics agency Eurostat said its consumer price index rose 1.4% in January from the same month a year earlier, down from 1.5% in December, while inflation for the month of January fell to a negative 1% from a month earlier.
Core inflation, which excludes energy, food, alcohol and tobacco prices, rose to an annual rate of 1.1% from 1.0% in the previous month.
The European Central Bank targets a headline inflation rate of close to, but just below 2%.
The bloc is expected to have another weak first-quarter after data on Thursday showed that manufacturing activity has shrank at its fastest pace in six years amid Brexit woes and worry over slowing growth in Italy and Germany.
The slowdown in the euro zone has led the European Central Bank to consider fresh stimulus measures, as the bloc continues to weaken. The ECB is expected to cut its growth forecasts in March and is discussing issuing targeted long-term refinancing operation loans to help stimulate the economy, ECB officials have said.