Eurozone inflation rises to 1.8 percent in September

BRUSSELS: Official figures show that inflation in the 16 countries that use the euro rose further in September to near the European Central Bank's target.

Eurostat, the EU's statistics office, says that eurozone consumer prices rose 1.8 percent in the year to September, up from August's 1.6 percent annual rate.

A more detailed breakdown of the figures will be published in the middle of October.

Though the rate is more or less at the European Central Bank's of keeping inflation ``close to, but below 2 percent,'' interest rates are not expected to be increased anytime soon given ongoing concerns over the banking system and renewed worries about government debt, particularly in Ireland and Spain.

The bank meets again next week and is expected to keep its key rate at 1 percent.