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Eurozone inflation rises

Consumer prices in the 16 countries that use the euro rose by 1 percent in the year to January, official figures showed on Friday, a further sign that inflationary pressures in the eurozone remain relatively benign.

In its preliminary estimate, the EU statistics office Eurostat did not provide any details as to why inflation edged up modestly from December's 0.9 percent rate, but analysts think it was likely due to higher oil prices from a year earlier.