MAASTRICHT, Netherlands (AFX) - European Central Bank president Wim Duisenberg said recent economic data points to a gradual upturn in economic activity this year. Speaking at the ECB's regular news conference, Duisenberg said the new data indicates a "gradual improvement in the euro area in the course of the year." He added the ECB council sees no reason to change from its previous stance that the current level of leading interest rates, left unchanged today, is appropriate given the prospects for the euro area. "The council today saw no reason to change its previous assessment," Duisenberg told the conference. The ECB president said the spike in euro zone inflation for January does not give rise for price concerns as it was due to one-off weather and taxation factors. "Beyond the short term, the outlook for inflation remains favourable," Duisenberg said. However he also cautioned that "one important concern" for the ECB are forthcoming wage negotiations.