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Euro zone price rises picking up

Euro zone inflation - Energy sparks price increases
Euro zone inflation - Energy sparks price increases

Official figures show that the annual inflation rate in the euro zone accelerated in December.

Consumer prices climbed at an annual rate of 0.9% in the month, according to a flash estimate from the EU's Eurostat data agency. This compared with a revised 0.5% rate in November, which marked the first time prices compared with a year earlier had risen since April.

The previous month's rise largely reflected energy costs that have risen again after a collapse in the price of oil and gas during the financial crisis.

Revised EU estimates for euro zone economic growth predict 0.7% for 2010 and 1.5% in 2011.