Eurozone inflation hit 0.4 percent in January, up from 0.2 percent in December, official data showed Friday, a sign European Central Bank efforts to boost the economy are finally bearing fruit.
ECB president Mario Draghi said last week he may have to do more to revive the struggling 19-nation eurozone economy given persistently low inflation, made worse by tumbling oil prices.
Analysts had expected inflation in January at 0.4 percent but this is still much lower than the ECB’s official two-percent target.
