By Anna McLauchlin - 15th April 2004
Annual inflation in the euro area has risen to 1.7 per cent the European Commission said on Friday.
Brussels statistics office Eurostat confirmed inflation rose from 1.6 per cent in February to 1.7 per cent in March.
The news is in line with the European Central Bank forecast that inflation could edge up this year thanks to energy prices and increased indirect taxes.
Highest increases were seen in Greece and Italy while Finland recorded a decrease of -0.4 per cent.
Eurostat also said eurozone GDP grew by 0.3 per cent between September and December of last year.
Ireland showed the highest growth rate while GDP contracted in Portugal and the Netherlands and there was no growth at all in Germany.
Growth was mainly a result of investment and imports, Eurostat said, while household consumption remained weak and exports slowed as a result of the strong euro.
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