Energy prices increased by 2.2 percent year-on-year in January, easing from a 2.9 percent gain in December; and unprocessed food prices rose at a softer 1.1 percent, compared with 1.9 percent in the previous month. Meanwhile, inflation was flat for services (at 1.2 percent); and picked up for processed food, alcohol and tobacco (2.5 percent vs 2.2 percent) and non-energy industrial goods (0.6 percent vs 0.5 percent).
Among Eurozone's largest economies, the highest annual rate was registered in France (1.5 percent), followed by Germany (1.4 percent), Italy (1.2 percent) and Spain (0.7 percent).
Annual core inflation, which excludes volatile prices of energy, food, alcohol and tobacco and at which the ECB looks in its policy decisions, was also confirmed at 1 percent in January, up from 0.9 percent in the previous month.
On a monthly basis, consumer prices fell 0.9 percent in January, following a 0.4 percent gain in December and compared to market consensus of 1.6 percent drop.