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Euro zone inflation drops to 1.1 percent in Jan.

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[January 30, 2009]  BRUSSELS, Belgium (AP) -- The European Union says inflation in the countries that use the euro currency dropped to 1.1 percent in January, according to preliminary estimates.

InsuranceThe EU's statistics agency, Eurostat, says the further fall of inflation appears to reflect continuing drops in energy prices. It stood at 1.6 percent in December.

The agency also says unemployment edged up to 8 percent in December in the euro zone from 7.9 percent in November.

Eurostat said Friday an additional 230,000 people lost their jobs in the last month of 2008, reflecting a worsening economic situation across the 16-nation single currency area.

[Associated Press]

Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.



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