EU inflation falls in January

Eurostat reports that annual inflation among the 17 member states fell to 2.6% in January, down from 2.7% the month before.

EU annual inflation fell from 3% in December to 2.9% last month.

The lowest annual rates were observed in Sweden, Ireland and Malta with 0.7%, 1.3% and 1.5%, respectively, while Hungary, Estonia, Poland and Slovakia all reported the highest annual rates with 5.6%, 4.7% and 4.1%, respectively. (article continues below)

Housing, transport, alcohol and tobacco were all the highest contributors to inflation during January.