Eurostat released its consumer price inflation data for the Eurozone on Friday. The preliminary consumer price inflation in the Eurozone rose to 0.4% year-on-year in January from 0.2% in December, in line with expectations.

The preliminary consumer price inflation excluding food, energy, alcohol, and tobacco climbed to an annual rate of 1.0% in January from 0.9% in December. Analysts had expected the index to remain unchanged at 0.9%.

Food, alcohol and tobacco prices were up 1.1% in January, non-energy industrial goods prices gained 0.7%, and services prices climbed 1.2%, while energy prices dropped 5.3%.