Eurozone inflation hits 2.4%

The increase, up from 2.2% in December, is the highest inflation figure for more than two years and will increase calls for the European Central Bank (ECB) to raise interest rates later this week. This month's figure further propels inflation away from the ECB's target figure of just below 2% and comes against a background of rising food and commodity prices. Despite ECB President Jean-Claude Trichet previously saying high inflation is a short-term phenomenon, some analysts speculate the ECB is now adopting a tougher stance towards fighting price rises. Earlier this month UK inflat...